gold price. Hence, we maintain our neutral position. 4 Positive scenario 6-month target: USD 1,920/oz ¢ Additional quantitative easing measures by the US Fed and the ECB are implemented, or inflation accelerates sharply in emerging markets. This would drive the gold price towards USD 1,920/oz again. & Nega

crying time. We see the markets doing what they're doing now because of the Federal Reserve and Europe, Japan, and China taking on the mantle of the US Fed. It's very scary. I'll tell you what's going on here: asset inflation, whether it's bonds, or real estate, even more so. Residential real estat