Dalio: Gold safer than dollar

Billionaire Ray Dalio said that gold is “certainly” more of a safe haven than the US dollar and the metal’s record-setting rally echoes the 1970s, when it surged during a time of high inflation and economic instability.

- ALEXANDRA SEMENOVA NATALIA KNIAZHEVICH LISA ABRAMOWICZ

Ray Dalio, founder of Bridgewater Associates, in May 2024.

(REUTERS)

The remarks from Mr Dalio — who founded the hedge-fund firm Bridgewater Associates — came during an appearance at a conference on Tuesday, when he was asked whether he agreed with the view of Citadel's Ken Griffin that gold’s rise reflected anxiety about the US currency.

“Gold is a very excellent diversifier of the portfolio,’ Mr Dalio said during a panel discussion with Bloomberg's Lisa Abramowicz at the Greenwich Economic Forum in Connecticut. “So if you were to look at just from the strategic asset allocation mix perspective, you would probably have as the optimal mix something like 15% of your portfolio in gold”