Gold’s surge signals fear as investors hedge dollar risk
Gold's relentless rally past $4,000/oz is stirring unease, not cheers. Investors and central banks are hedging dollar debasement, deficits, policy gridlock and geopolitical risk. Ray Dalio urges holding 15% gold for diversification. September saw ~12% gains; record Indian ETF inflows could lift imports, widen the trade gap and pressure the rupee.