What is the Optimal Gold Allocation in a Portfolio?

Ray Dalio, the founder of Bridgewater Associates L.P. and the creator of the All-Weather investment strategy, recommends having some gold in a contemporary environment. He states, “In a world of ongoing pressure for policymakers across the globe to print and spend, zero interest rates, tectonic shifts in where global power lies, and conflict, gold has a unique role in protecting portfolios. It’s wise to hold some gold.” Therefore, one would ask a question, what is the optimal weight of gold in a portfolio?

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