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Billionaire Ray Dalio Bets Big on Gold

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Tuesday, 05 Dec 2017 08:11 AM Current | Bio | Archive

Billionaire hedge fund manager Ray Dalio practices what he preaches.

In August, Dalio urged investors to allocate 5-10% of their portfolios in gold as protection against political and economic risks churning in the world. 

According to regulatory filings released recently, Dalio put his money where his mouth is.  Dalio’s Bridgewater Associates, the world’s largest hedge fund, plowed a lot of money into gold in the third quarter. 

Bridgewater more than tripled its holdings in iShares Gold Trust and boosted holdings in SPDR Gold Shares nearly seven-fold.

Bridgewater added 3.32 million shares in SPDR Gold in the third quarter, taking holdings to 3.89 million, and boosted its iShares Gold stake by 8.2 million shares to 11.3 million, according to the filing.

Dalio was not alone; hedge funds and other investors added a combined $672 million in holdings in SPDR Gold, the world’s biggest bullion-backed fund, and $764 million into iShares Gold.

Famed billionaire fund manager John Paulson (and noted gold bull) held steady on gold in the third quarter.  Regulatory filings show that New York-based Paulson & Co. kept its stake in SPDR Gold Trust unchanged at 4.36 million shares valued at $530 million at the end of September.  The value of the stake was up from $514.5 million in the second quarter as gold prices rose.

Paulson also stayed the course on his holdings in gold equities, with positions unchanged in AngloGold Ashanti and NovaGold, even though those shares declined from the second quarter.  Paulson’s stakes in IAMGOLD, RandGold, and Seabridge Gold remained unchanged but their value rose.

George Soros continued to watch from the sidelines as his Soros Fund Management stayed out of gold for the fourth straight quarter.

Mike Fuljenz is a member of the Newsmax Finance Brain Trust. He is also the editor of the NLG award winning Michael Fuljenz Metals Market Weekly Report. Discover more by Clicking Here Now.

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Billionaire hedge fund manager Ray Dalio practices what he preaches.In August, Dalio urged investors to allocate 5-10% of their portfolios in gold as protection against political and economic risks churning in the world. According to regulatory filings released recently,...
gold, billionaire, ray dalio, bets, big
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2017-11-05
Tuesday, 05 Dec 2017 08:11 AM
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