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You can almost see it unfolding with the odds indicating the unfortunate exit. European bourses are profit taking and anticipating volatility but gold is in a tight choppy range. Is this normal? Is gold losing the safe haven fear factor?
If you look at the history of GFC, I am now bias towards USD being the safer haven asset of choice should Greece defaults. I suppose the cheap money will keep supporting the local economy in Europe and Japan and to some extent US with the TBonds indicating FFR is unlikely in the near future.
