Recently, spot gold has continuously refreshed key levels. After falling nearly 2% to the $4,300 mark on October 18, in just one trading day, on October 20, spot gold regained all lost ground and set a new record high again, touching $4381.484 intraday, an increase of 2.46% on the day.
What is driving the recent surge in gold prices? The traditional decline in real interest rates to explain the rise in gold prices has been a bit pale. On October 18, Bridgewater Fund founder Dalio analyzed the reasons for the rapid rise in gold prices from another angle on social media.
Mr. Dalio said gold had begun to replace some Treasuries as a risk-free asset in many portfolios, particularly those of central banks and large institutions, whose holders had reduced their holdings of Treasuries relative to gold.
Dalio: Gold has replaced U.S. Treasuries as a risk-free asset
2025-10-21 04:44:12
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