Dalio deems gold true currency, urges investors to reassess

US billionaire Ray Dalio said investors should view gold as the original true form of money, a cornerstone of financial stability, when shaping their investment strategies.

Speaking to CNBC on Tuesday, Oct. 28,  during the Future Investment Initiative Institute in Riyadh, the Bridgewater Associates founder urged investors to think about gold differently, rendering it as the world’s most important currency.

His comments come as gold, long seen as a safe haven in times of uncertainty, has surged to record highs this year.

Dalio added that investors should allocate 5% to 15% of their portfolios to gold as a hedge against market volatility and currency depreciation.