By Sean Michael Cummings

Two years ago, one of America's biggest hedge funds bailed on gold...

Less than 1% of Bridgewater Associates' fund was invested in the metal. And by August 2023, that investment fell to zero. Bridgewater sold all of its gold shares, a transaction worth about $163 million.

The timing couldn't have been worse.

Since Bridgewater announced its gold sale, the metal has surged 77% – more than doubling the return of the S&P 500 Index. That would have turned Bridgewater's initial investment into about $289 million in less than two years.

Bridgewater misjudged the gold market. But as I'll discuss in a second, so did most of the Western world...

Today, that's changing. After missing the boat for years, North American and European investors are waking up to the opportunity in gold. And that could push prices higher than anyone expects...