Some of the world’s biggest money managers have rebuilt their gold holdings after prices dropped, betting that long-term drivers of the precious metal will endure even as the US Federal Reserve takes a more assertive stance on inflation.

The shift comes as major players like BlackRock and Vanguard have increased exposure to gold bullion and gold mining equities. Analysts note that persistent inflation concerns, geopolitical tensions, and central bank diversification efforts continue to support gold's long-term appeal despite short-term headwinds from Fed policy tightening.

Notable investors including John Bogle, Elon Musk, and Tim Cook have reportedly adjusted their portfolios to include more gold, reflecting a broader trend among institutional investors seeking inflation hedges. The rebound follows a period of reduced allocations as real yields rose and the dollar strengthened, but recent market volatility has reignited safe-haven demand.