Bank of America survey shows only 6% of fund managers view gold as overvalued, the lowest level since March 2023.
Gold is perceived as the most undervalued since March 2023, with just 6% of investors considering it overpriced. The July Global Fund Manager Survey highlights a sharp decline in bearish sentiment toward the precious metal.
The survey, which tracks institutional views, reveals that less than 10% of respondents now label gold as overvalued. This marks the lowest reading in over three years, contrasting with higher valuations seen in prior periods.
The shift suggests growing appetite for gold amid macroeconomic uncertainty, though market reactions remain muted in early trading.