Gold prices rose overnight, with the yellow metal sitting at just over USD $1200oz. A dovish FOMC (who doffed their cap to the IMF) plus concerns over Greece are supporting bullion, though this could be another false start for a market thats largely traded sideways for 18 months in USD. Gold was in the news for a number of other reasons this week, with the Bank of China set to join the LBMA Gold Fix, Russian central bank governor Elvira Nabiullina telling CNBC why Russia has and will continue to accumulate gold, and Texas announcing they're building their own gold depository, perhaps so UTIMCO can repatriate the roughly $1bn of physical they hold with HSBC from New York to the lone star state. On top of that, after attending Livewire Live and being fascinated by the conversation around cash weightings within portfolios, and nervousness about a correction, we analysed monthly market returns in environments of severe stress, to see if Aussie fund managers might benefit from including some bullion as part of their cash allocation. The results are here (VIEW LINK)