Gold (GCM25) has been one of the best-performing global assets so far this year. Still, after soaring to an all-time high of $3,500 per ounce last month, the precious metal faced sharp selling pressure as risk-on sentiment returned to global markets following easing trade tensions. As a result, many market observers began questioning whether gold’s impressive rally had finally run its course — but one legendary investor appears to disagree.
Ray Dalio, the billionaire founder and co-chief investment officer of Bridgewater Associates, the world’s largest hedge fund, is making a substantial new bet on gold, signaling his belief that the metal’s bull run may still have significant room to run.
