I can tell you that we had an allocation of gold in our multi-asset products, and we've halved it recently. We still think it makes some sense to have an allocation to gold, but not as much as we used to. I would wait and see how the deleveraging process plays out. I think that if the world de-levers further, which is not immaterial, then gold will be hit.--Mohamed El-Erian
I leaned the same way, 4 weeks ago, and I am short some GLD in the personal account.