黄金突然跳水，桥水基金创始人：持有15%最合适

Core Viewpoint - The recent decline in precious metal prices, particularly gold and silver, has raised questions among investors about the appropriateness of holding these assets in their portfolios [1][3]. Group 1: Market Trends - On October 21, gold prices fell below $4250 per ounce, marking a 2.36% decline, while COMEX gold futures dropped by 1.92% [1] - Silver prices fell below $50 per ounce for the first time since October 10, with an intraday drop exceeding 6% and a current decline of 4.5% [3]. Group 2: Investment Strategy - Ray Dalio, founder of Bridgewater Associates, emphasizes that gold should be part of a strategic asset allocation rather than a tactical bet on price movements [5][6]. - Dalio recommends a 15% allocation to gold for most investors, which he believes optimizes the risk-return profile of an investment portfolio [9][10]. Group 3: Historical Context and Value of Gold - Dalio argues that gold has historically shown a negative correlation with other assets, particularly during periods of poor returns in stocks and bonds, making it a valuable diversification tool [9][10]. - He asserts that gold is the most mature form of currency and serves as a stable core investment, contrasting it with fiat currencies that are essentially debt [11][12]. Group 4: Gold vs. Other Assets - Dalio explains that while other metals like silver and platinum can serve as inflation hedges, they do not possess the same historical significance and stability as gold [15][16]. - He highlights that gold is increasingly being viewed as a safer asset compared to U.S. Treasury bonds, with many institutional investors reallocating towards gold [17][18].