黄金创新高，达利欧如何配置资产

Core Viewpoint - The article discusses the impact of President Trump's fluctuating policies on the capital markets, particularly focusing on the potential for European countries to divest from U.S. assets due to geopolitical tensions and Trump's threats regarding Greenland [3][4]. Group 1: Market Reactions - Gold prices have surged to over $4,900 per ounce, marking a 13% increase this month and a total rise of nearly $600 [3]. - European elites are reassessing their exposure to U.S. assets, considering diversifying their investments to mitigate risks associated with U.S. policies [3][5]. - Ray Dalio, founder of Bridgewater Associates, noted that the market is increasingly diversifying asset allocations away from U.S. assets, with gold prices rising by 67% due to central banks and investors seeking to reduce reliance on traditional fiat currencies [3][7]. Group 2: Investor Sentiment - Concerns among European investors have escalated, with many feeling uneasy about becoming targets of Trump's potential retaliatory measures [5]. - The Alekta pension fund has significantly reduced its holdings in U.S. Treasury bonds, selling off approximately 70 to 80 billion Swedish Krona (around $7 to $8 billion) due to the unpredictability of the U.S. government and rising national debt [6]. - Overall, there is a noticeable trend of investors decreasing their investments in the U.S. market, as highlighted by Dalio [7]. Group 3: Strategic Adjustments - Swiss private bank Edmond de Rothschild is considering strategic adjustments to its U.S. stock positions based on the outcomes of Trump's Greenland policy discussions [9]. - UBS CEO Sergio Ermotti warned that using U.S. Treasury holdings as leverage is a "dangerous gamble," reflecting the cautious sentiment among wealth management firms [9]. - Dalio emphasized the importance of diversifying investment portfolios, suggesting a higher allocation to gold than the typical 5-15% range due to current geopolitical tensions [10][11].