This year, the price of gold has repeatedly reached new highs, attracting much attention in the market. However, it is surprising that the global hedge fund giant Bridgewater has chosen to rapidly withdraw. Data from multiple gold ETF regular reports show that Bridgewater (China), which had been firmly holding gold ETFs since mid-2022, sold a large amount in the first half of this year. As of the end of the second quarter of 2024, including three gold ETFs such as E Fund, Bosera, and Huaxia, Bridgewater has sold a total of approximately 189 million shares. Industry insiders believe that Bridgewater's actions are more tactical and short-term allocation changes, rather than trying to escape at the peak, as the long-term allocation of gold prices always survives. As of the end of 2023, Bridgewater (China) held three gold ETFs under its Bridgewater All Weather Enhanced China Private Equity Fund, including E Fund Gold ETF (159934), Gold ETF (518880), and Gold ETF Fund (159937), with a total holding of approximately 189 million shares. However, by the end of the second quarter of this year, the company's products had exited the top ten holders of the aforementioned three gold ETFs. Bridgewater Fund has always been known as "smart money," and industry insiders believe that the large-scale sale of ETFs by Bridgewater may be related to its "all-weather" strategy. This strategy aims for long-term stable growth, and the substantial selling of gold in the first half of the year may simply be to "lock in profits." When the price of gold is at historically high levels, institutions often choose to take profit to prevent losses from market adjustments. However, there are still many institutions that maintain a positive outlook on the future of gold. Guotai Fund stated that with the current fundamentals, the price of gold reaching historic highs, the short-term market trading volatility may increase, and there may be a risk of a pullback if the market expects a rate cut by the Federal Reserve in September. However, the overall direction of the Federal Reserve maintaining a "loose + economic rolling downturn" still maintains a favorable trend for the price of gold.