Gold No Longer a Safe Haven, UBS Says in CIO Monthly Letter

Gold is no longer a safe haven, UBS AG (UBSN) said in its monthly CIO letter.

“Going into 2011, most investors believed that safe havens included gold, the Swiss franc, U.S. dollars, U.S. Treasuries, and Japanese government bonds,” the bank wrote in the letter. “As we enter 2012, neither gold nor the Swiss franc

retains a safe haven status.”

To contact the editor responsible for this story: Stuart Wallace at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.