Politics
Fidelity Fund Doubles Gold Holdings on Uncertainty Over Fed
Key Points
Fidelity Fund Doubles Gold Holdings on Uncertainty Over Fed A portfolio manager at Fidelity International Ltd. has doubled his fund’s gold holdings over the past three weeks, citing increasing uncertainty over US Federal Reserve policy as a catalyst. After raising the proportion of bullion in the fund to a self-imposed limit of 5%, George Efstathopoulos said he would consider lifting this ceiling should the safe-haven status of the US dollar continue its decline. He began his recent...
Fidelity Fund Doubles Gold Holdings on Uncertainty Over Fed
A portfolio manager at Fidelity International Ltd. has doubled his fund’s gold holdings over the past three weeks, citing increasing uncertainty over US Federal Reserve policy as a catalyst.
After raising the proportion of bullion in the fund to a self-imposed limit of 5%, George Efstathopoulos said he would consider lifting this ceiling should the safe-haven status of the US dollar continue its decline. He began his recent accumulation after the investor retreat from long-dated Treasury bonds that followed the Fed’s July meeting.