Asset managers rebuild gold positions as prices dip

The coordinated rebuilding by major asset managers signals a conviction that the recent price dip is a tactical entry point rather than a trend reversal, even with the Fed's hawkish stance. This matters because these institutions manage significant flows, and their positioning could anchor the market's downside. The key tension is whether their long-term bullishness, exemplified by Amundi's $5,000 target, can withstand sustained monetary tightening. The open question is whether their buying pressure will be enough to offset any further hawkish surprises or if the dip extends, testing their resolve. Watch for whether other large players follow suit, as that would confirm a broader institutional floor.