Global Asset Managers Increase Gold Positions
Major firms such as Amundi SA, Pictet, and Robeco have decided to increase the weight of precious metals in their portfolios, taking advantage of the decline in gold prices.
The world's leading asset management companies are restructuring their portfolios, viewing the pullback in gold prices as an investment opportunity. Institutions such as Amundi SA, Pictet Asset Management, Robeco, and Fidelity International have begun to expand their gold positions in recent weeks after reducing them at the beginning of the year.
Strategic Investment Moves
Amundi SA, Europe's largest asset management company, has made purchases with the expectation that the ounce price of gold could reach the $5,000 level by the end of the year. The company defines gold as both a hedging tool and a liquid asset.
Numerous institutions managing a total of $27 trillion in assets have recently shown a trend toward increasing their gold holdings. These moves are considered a reflection of the search for a safe haven against uncertainties in the markets.
Market Expectations and Risks
Experts state that the rise in Treasury bond yields and expectations regarding the Fed's interest rate hikes could limit gold's rise. It is projected that surpassing the $4,600 per ounce level may be difficult.
Ray Dalio, founder of Bridgewater Associates, argues that investors should allocate up to 15% of their portfolios to gold against the risk of a US debt crisis.