Ray Dalio Sees Ongoing Diversification Away From US Assets

There’s been an ongoing general diversification away from US assets, especially by global central banks, according to Ray Dalio, the founder of hedge fund firm Bridgewater Associates.

“When you look at gold being up 67%, it’s not a precious metal that goes up 60%,” Dalio told Bloomberg Television’s Francine Lacqua in Davos on Thursday. “It was bought by central banks particularly, but others, and in order to diversify fiat currencies, not just dollars.”