Bridgewater Associates founder Ray Dalio said investors should allocate as much as 15% of their portfolios to gold even as the precious metal surged to an all-time high above $4,000 an ounce.

"Gold is a very excellent diversifier in the portfolio," Dalio said Tuesday at the Greenwich Economic Forum in Greenwich, Connecticut. "If you look at it just from a strategic asset allocation perspective, you would probably have something like 15% of your portfolio in gold … because it is one asset that does very well when the typical parts of the portfolio go down." Stock Chart Icon Stock chart icon

Gold futures year to date

Gold futures were last trading at $4,005.80 per ounce. Prices have skyrocketed more than 50% this year amid a flight to safety on mounting fiscal deficits and rising glob

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