达利欧：世界正处于资本战争的边缘

Core Viewpoint - The world is on the brink of a capital war, as stated by Ray Dalio, founder of Bridgewater Associates, at the World Government Summit in Dubai. He emphasizes that trade deficits indicate capital imbalances between the U.S. and other countries, which could potentially lead to conflict [2]. Group 1: Gold as a Hedge Asset - Investors should not focus on short-term fluctuations in gold prices but rather view gold as the best hedging asset, maintaining a certain proportion in their investment portfolios [2]. - Following a significant drop of over 10% in gold prices since January 30, the price rebounded, reaching nearly $5,000 with a daily increase of 6.2%. However, it later experienced further volatility, dropping to a low of $4,789.5 on February 5 before stabilizing around $4,900 [2]. - Dalio asserts that a single day's drop does not alter gold's status as a safe-haven asset, noting that gold has increased by 65% over the past year, despite a subsequent 16% decline from its peak [2]. Group 2: Strategic Asset Allocation - Central banks, governments, and sovereign wealth funds should consider the appropriate proportion of gold in their asset allocations, as it serves as an effective risk diversification tool [2].