Firms increase gold buying as Amundi says $5,000 by 2026
Big investment firms like Amundi, Fidelity, and Pictet are buying more gold after prices dropped earlier this year.
Amundi even thinks gold could reach $5,000 an ounce by year-end 2026, but it is waiting to see what the US Federal Reserve does with interest rates before making bigger moves.
Managers of $27 trillion favor gold
Together managing $27 trillion, these asset giants see gold as a smart safety net while economies feel shaky.
Central banks just made their biggest second-quarter gold buy ever (289 tons), showing many investors are looking for stability.
With stocks and gold no longer moving in sync and concerns about the US dollar's store-of-value role rising, investors say this price dip only makes gold look like an even better long-term bet against inflation and global uncertainty.