Missiles Over Japan Highlight Gold Beating Yen as Haven: Chart

(Bloomberg) -- Gold looks to be overtaking the yen as a favored haven, and North Korea’s missile launches look to be reinforcing that trend by spurring investors to seek alternatives to the Japanese currency in times of trouble. Tuesday’s provocation from Pyongyang saw gold rise more than the yen on the early panic, and when calm returned to markets, the barbarous relic’s 0.1 percent loss on the day looked good compared to the Japanese currency’s 0.4 percent slide. The yellow metal has beaten the yen about 65 percent of the time over the past three months on days when both advanced; that compares with the earlier part of the year when gold only beat the currency half of the time.

To contact the reporters on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net, Wes Goodman in Singapore at wgoodman@bloomberg.net.

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Andreea Papuc