Billionaire Ray Dalio's Bridgewater fund poured almost half a billion dollars into gold in Q2

Gold last traded at $1,991 an ounce. Silver at $27.61 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply Monday on safe-haven buying and a weaker dollar. U.S. stocks traded mixed as investors struggled with overbought conditions and a political stalemate over a new stimulus package.

 Business Insider---"Billionaire investor Ray Dalio's hedge fund poured more than $400 million into gold in the second quarter of this year, as the price rallied towards record highs, luring in high-profile and amateur investors alike...Bridgewater raised its holdings in the SPDR Gold Trust from $600.6 million to $914.3 million, making it one of the largest investors in the fund, according to data from Bloomberg. The fund's holding in SPDR is now its second-most valuable. The company increased its holding in the iShares Gold Trust from $176 million to $268.4 million. This investment is now Bridgewater's sixth biggest stake, up from ninth the previous quarter....With the rally in the gold price, investors have piled into ETFs at break-neck speed this year. ETFs around the world now own more gold than the German central bank, the world's second biggest holder of bullion after the US....Gold broke the $2,000 mark for the first time ever at the start of the month. The price has gained more than 26% so far this year, making it one of the best-performing commodities and outpacing several peers, even the tech-heavy Nasdaq....While gold's decline this week initially caught traders off guard, the outlook for the market remains bright. Analysts told Business Insider that despite Tuesday's near-6% drop, several factors factors such as the weaker dollar and growing geopolitical uncertainty suggest gold has more room to rally."