Ray Dalio still believes in gold (1)

The billionaire investor and founder of the world's largest hedge fund, Ray Dalio, retains his belief in gold. That happens, despite the sharp decline in the metal, which today reached a new low for the last one over a year - down to less than $1,290 per ounce.
Dalio, who runs the Bridgewater Associates, has kept its stake on the two largest index-traded funds on gold by June 30, despite the fall in the metal.
By today, Dalio has 3.9 million shares of the largest exchange-traded index fund based on the gold price of SPDR Gold Shares and its 11.3 million shares in the second largest fund - iShares Gold Trust, according to data of regulators.
For the three months until the end of June, investors in gold-based index funds recorded serious losses, resulting in more than $1 billion in both funds being withdrawn. This was also the first quarterly outflow of funds from the gold funds since 2016.