Gold Nears $3,800 Mark, But Expert Says 'We Aren't Anywhere Close To Gold Fever Yet:' 39% Of Fund Managers Have 0% Allocation - SPDR Gold Trust (ARCA:GLD), SPDR Gold MiniShares Trust (ARCA:GLDM)

Core Insights - Gold prices have extended their rally, nearing $3,800 per ounce, driven by strong demand and economic uncertainty, indicating a robust safe-haven appeal [1] - A Bank of America Global Fund Manager Survey reveals that 39% of fund managers have no allocation to gold, suggesting significant untapped investment potential [2][3] - Central banks, particularly China, are increasing their gold holdings, with non-monetary gold imports reaching 104 tonnes in July, exceeding the five-year average [3][4] Demand Dynamics - Demand in China remains strong, with a notable surge in gold imports, while India's demand is expected to rise with the festival season [3][4] - Ongoing global economic uncertainties are anticipated to support bullion prices further [4] Market Sentiment - Despite the current rally, market experts believe that a speculative frenzy has not yet developed, indicating potential for further price increases [2][3] - Analysts like James Turk predict gold prices could reach $4,000 per ounce soon, reflecting a bullish outlook [5][6] Price Performance - Gold spot prices rose by 1.07% to approximately $3,724.39 per ounce, marking a 23.13% increase over the last six months and a 41.99% increase over the past year [7] - Various gold ETFs have shown strong year-to-date and one-year performance, with some ETFs reporting over 38% returns [8][9] Institutional Trends - The market is observing a potential shift in investment strategies, with Morgan Stanley revising the classic "60/40" portfolio to include gold, signaling a shift away from U.S. Treasuries [6]