As gold smashes through $4,000, investors are turning back to the oldest safe haven in human history. But what does this glittering rush say about fear, faith, and the fragile future of money?
On a cool Wednesday morning in New York, screens across trading floors flickered with a number that glittered brighter than most: $4,000. Gold, the world’s oldest form of money, the metal that outlasted empires and currencies, had crossed a record high. To some, this milestone was inevitable. To others, it was irrational. On the other hand, to most investors it was simply a survival means.
“We’re living through a moment that rhymes with the early 1970s,” said Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund. “Debt is high, monetary policy is uncertain, and confidence in paper assets is fading.” Recommending that investors hold as much as 15% of their portfolios in gold.
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