MARKET TALK: Gold Prices To Rise In 2012 - SEB

SEB expects gold prices to rise in 2012 as central
bank buying, low interest rates and macroeconomic risks continue to support the
yellow metal's status as a safe store of value. "Gold is continuing to perform
well in the prevailing environment of extremely low interest rates and great
uncertainty about economic growth," the house says. "High and possibly
increased market liquidity, negative real interest rates and systemic risks
will be underlying forces that drive gold," it adds, noting that gold has
resumed its long-term uptrend in the last two months following a correction in
September. Spot gold is trading at $1,747.10 a troy ounce, down $2.30 from its
previous settlement but up 7.6% since the start of
October