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Commodity Daily News
Gold is Not a Safe Haven Asset
Monday, 2 Jan 2012
If there are two things that investors have learned this year it is the Middle East is a hotbed for instability and gold is not a safe haven asset. Since reaching its high in September spot gold prices have fallen 18%. The outlook for gold can be tied into expectations for the euro zone. Should investors begin take a more desperate position for the fate of the EUR, spot gold prices are likely to suffer as well. It should also be noted that the price of spot gold has broken its long term uptrend from October 2008.
