Is gold still a safe haven?

Are you wondering why, during last week's market turmoil, demand for 'safe haven' gold didn't kick in until Friday afternoon? James Turk explains what's been keeping the gold price down - at least until now.

I urge everyone to read an article about counterparty risk that I posted this past Friday to Kitco.com. It's entitled 'As Financial Tremors Reverberate, Focus on Counterparty Risk'. Here's the link: As financial tremors reverberate, focus on counterparty risk

Counterparty risk is becoming increasingly important. As the subprime mortgage contagion continues to spread, there is growing nervousness about all types of financial assets, and rightly so. No one yet knows how big the subprime problem even is let alone how big it will become. Not surprisingly in this present environment promises are being called into question. Counterparty risk has become a growing worry, particularly as the subprime mess spreads in ways heretofore unexpected.

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