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Gold’s performance as a diversifier needs more credit - UBS

Posted on 11 February 2014

Amid the disappointment on display after gold’s lacklustre, late-session performance on Friday, the outlook isn’t entirely poor for the yellow metal. In its daily commodities note, UBS points out that, while gold seems stuck in a range at the moment, the metal remains negatively correlated with risk.
It explains that the gold vs S&P 500 20-day rolling correlation is currently at -0.54, after recently reaching -0.63, its lowest level in more than three years………………………………………..Full Article: Source


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