Ray Dalio believes gold deserves a significant portion of one’s portfolio, saying the precious metal is still appealing even at record highs. “Gold is an effective diversifier, meaning that if you take the classic mix of assets, and you have a particular problem, an optimal portfolio would have something more than about 10% in it,” Dalio said on CNBC’s ” Money Movers ” Tuesday. Dalio, founder of the world’s largest hedge fund Bridgewater Associates, believes if an investor has an impartial view on the markets, gold should take up more than one tenth of the portfolio. @GC.1 YTD mountain Gold futures “If you were neutral, gold is an under-owned, relatively attractive asset right near its highs in the market,” he said. “People are generally underweighted including central banks … even though it’s an it’s an effective diversifier. If you were neutral, you probably have more than 10% in the portfolio. I have it as an overlay.” His comments came as the bullion jumped to a record Tuesday amid rising expectations of a September interest rate cut. Lower rates typically benefit the non-interest bearing precious metal. Gold futures advanced 1.5% to $2,465.30, topping the previous high of $2,454.20 reached May 20. The futures rose as high as $2,467.30 an ounce on the session. Dalio has been bullish on gold for a few years as the value of money depreciated and geopolitical tensions rose.