Billionaire Ray Dalio on gold:

Gold is poised to be a top investment, says hedge fund maven Ray Dalio, as central banks grow more aggressive with policies that devalue currencies and cause a "paradigm shift" in investing.

Dalio says investors have been pushed into stocks and other assets with equity-like returns, thus too many people are holding these types of securities and likely will face diminishing returns.

The investments offering the best returns "will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold," Dalio writes.