Overview

• Speaking at an Abu Dhabi Finance Week launch event, Dalio said rising debt-service costs are crowding out other spending and likened the buildup to arterial plaque heading toward a financial heart attack.
• He cast gold as uniquely uncorrelated and prone to rise in crises, urging investors to treat a 10%–15% allocation as portfolio insurance rather than a directional bet.
• Spot gold traded near record levels around $3,641 per ounce after a near 40% year-to-date jump, with futures quoted near $3,681.
• U.S. stocks closed at all-time highs, with the S&P 500 up about 11% this year and the Nasdaq roughly 13% as markets price in a Federal Reserve rate cut next week.
• Standard Chartered CEO Bill Winters said the UK and France face comparable debt-related constraints, noting markets have imposed tighter limits there than in the U.S.