Rui Dalio, founder of the world's largest hedge fund, said he is holding gold to cushion the risk of rising inflation and a potential debt crisis impacting the economy. In an article this week, he wrote, “Gold is a form of money without debt support. It's like cash; the difference is that cash and bonds depreciate due to the risk of default or inflation, and gold is supported by debt defaults and the risk of inflation,” which is the main reason he holds gold in his portfolio. He added that in the context of high debt levels, gold is a “good diversified investment tool.” (Global Market Report)