Fidelity's Samson Plans Overweight Gold Return Ahead of 2027 Bull Market

Fidelity International multi-asset portfolio manager Ian Samson forecasts gold resuming its bull market in 2027, as the drivers behind its earlier record high of $5,600 per ounce remain intact. He noted plans to shift back to overweight on the metal but stressed that the exact timing for action is still under review.

Samson downgraded gold to neutral early this year ahead of the pullback, partly triggered by the Iran conflict. Despite near-term headwinds, he sees modestly higher prices by year-end, support near $4,000, and bullish signals from moving-average crossovers or a break above $4,300.

Long-term conviction rests on central-bank demand and unchanged macro conditions without a return to orthodox fiscal policies. Samson highlighted that large structural buyers will inevitably push prices higher.