The yellow metal is acting more and more like a safe haven, moving away from its risk asset correlation that characterized its trading toward the end of 2011.
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There is still safe-haven demand moving to the greenback.
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But local laws are getting a lot of attention around the country now, he said, because drilling is moving into areas that haven't had to deal with it before and many communities are enacting bans that industry is challenging.
As correlation with U.S. equities and risk assets fall in tandem with stronger demand, particularly ahead of the Chinese Lunar New Years, gold could be moving toward the safe haven side, positioning the metal well ahead of market volatility and political risk.
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These are factors that are not going to disappear anytime soon and will likely keep investors moving toward the safe-haven yen, at least to a point.
It seems like a victory of sorts: investors are moving out of the safe haven of long-term U.S. government bonds, a sign that they might be getting ready to put capital to work in riskier ways, which would benefit the economy.
But if there's a law that's winding its way through the Iraqi parliament when it's time to report, is there some room here for saying, ah, they're - well, they're moving in the right direction even if they haven't achieved their benchmark?
Parrish and Clenney haven't decided where they are moving to, but they say they're going together.
One reason Canadian and Spanish banks have succeeded in moving into the U.S. in recent years is that they haven't put too much pressure on their U.S. subsidiaries to grow, says Gerard Cassidy, a banking analyst with RBC Capital Markets, so they weren't overextended when the financial crisis hit.
It managed to hold the 200 day moving average and with continued tension with Iran it is being looked at as a safe haven currency again.
If you look at the table below based on data from Eakle's decades-long Stock Market Diary, you will see that Monday probably represented a dramatic purge and capitulation such as we haven't seen since 1987 or 1990, when the percentage of stocks above their 200-day moving averages also fell to single digits.
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