Gold hit a three-week high of around $4,220 per ounce earlier this week before coming under pressure on Friday, October 24, falling 0.2% to $4,118.68 per ounce as a stronger dollar and investor caution weighed on sentiment. US gold futures also declined 0.3% to $4,133.40 per ounce, with bullion on track for its biggest weekly drop since mid-May, according to Reuters.

Billionaire investor Ray Dalio still believes the long-term outlook for the precious metal remains positive.

In a post on X (formerly Twitter), the Bridgewater Associates founder wrote, “History and logic have made clear that sanctions reduce the demand for fiat currencies and debts denominated in them and support gold. Throughout history, before and during shooting wars, there have been financial and economic wars that we

See Full Page