Gold functions as a safe haven investment during periods of economic instability
the verdict
SUPPORTED
the evidence backs this
confidence 68/100
Extensive empirical and conceptual research supports the claim that gold functions as a safe haven investment during periods of economic instability, consistently demonstrating defensive properties and low correlation with risky assets during crises.
Evidence for · 7
Economic policy uncertainty and Bitcoin. Is Bitcoin a safe-haven asset?
2020 · cited by 72
Paper 0 establishes that gold acts as a safe haven asset whose returns and volatility increase during times of economic policy uncertainty.
Evidence against · 1
Bitcoin, LQ45 Index, Mutual Fund NAV, and Mining NPM Impact on Gold as Safe Haven
2025 · cited by 0
Paper 3 notes that gold does not always function absolutely as a safe-haven asset, as its pricing and role remain complex and influenced by other market instruments.
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More for · 6
Safe Haven or Speculative Asset? A Conceptual Analysis of Gold, Equity Markets, and Cryptocurrencies During Economic Uncertainty
2026 · cited by 0
Paper 1 notes that gold has traditionally and conceptually been considered a strong defensive safe-haven asset due to its stability and low correlation with risky assets.
Risk Perception under Uncertainty: A Behavioral Analysis of Safe-Haven Asset Return Responses
2026 · cited by 0
Paper 2 finds that gold demonstrates significant asymmetric return responses to increased levels of market and economic uncertainty.
The Meaning of Psychological Calm for Gold Investors in the Midst of Global Uncertainty: A Phenomenological Study of Safe Haven Assets
2026 · cited by 0
Paper 4 shows that gold functions as a psychological safe haven and symbol of stability that helps reduce financial anxiety during global economic instability.
Revisiting gold as a stable, safe haven: Trends, insights, and paths to sustainability
2026 · cited by 0
Paper 5 concludes through a literature review and bibliometric analysis that gold remains the most consistently supported safe haven asset during market stress and crises.
Safe Haven vs. Non-Safe Haven Assets An Analysis of Gold and Fuel Oil Futures During Pre and Post COVID Periods
2025 · cited by 0
Paper 6 illustrates gold's safe-haven resilience through its steady price rise and decreased volatility during the COVID-19 pandemic recession.
Safe haven or risky bet? A study of gold prices during Indian stock market volatility
2025 · cited by 0
Paper 7 confirms gold's safe-haven role by demonstrating its negative correlation with equities during extreme market downturns and crises like 2008 and 2020.