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

Gold is no longer a safe haven, UBS AG 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.”

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