PIMCO's
In case you missed it, here's an excerpt from Barron's:
...The real risk to the financial markets is the marginal proclivity of investors to put their money in real assets, or under the mattress. Thus, my first recommendation is GLD -- the SPDR Gold Trust exchange-traded fund. It has a fee, but it is an easy way for investors to buy a real asset.
Lots of things go into pricing gold, but real interest rates [adjusted for inflation] and expected inflation are two dominant considerations. Gold probably won't move much from current levels unless real rates decline more or inflationary expectations rise from the current 2.5% to 3%, or higher. That's what gets gold off the dime. It is a decent hedge. It doesn't earn anything, but not much else earns anything either.
Minutes ago, he just tweeted:
Gross: OK, so I made a bad call at the Barron’s Roundtable. I would still buy gold here. World reflating.
— PIMCO (@PIMCO) April 15, 2013