Bridgewater Associates founder Ray Dalio has echoed Citadel’s Ken Griffin in viewing gold as a stronger safe haven than the US dollar, citing rising government debt, geopolitical tensions, and currency instability, according to a report by Bloomberg.

Speaking at the Greenwich Economic Forum, Dalio highlighted gold’s record rally—up over 20% since July to around $4,000 an ounce—and suggested an optimal portfolio allocation of around 15% in gold. He drew parallels to the 1970s, when gold surged alongside stocks amid high inflation.

Dalio expressed caution over stock market froth, particularly in AI-related mega-cap tech, while noting opportunities in companies leveraging AI for efficiency gains or providing key platforms.

On international markets, he remains constructive on China, though he said the US continues to attract the bulk of his investments despite challenges in both regions.