Safe Haven Investments!
No doubt Gold is considered as Safe Haven by the world since it does not have loose its value and has the capability to adjust the prices due to their local currency fluctuation.
However is it always true that Gold should be safe haven? Absolutely not! Currently the gold prices trading around 1600 US$ per ounce very highly overvalued and it is manipulated by speculators. The commodities and future trading requires very low margin and it gives so much energy to speculators to bet on the market direction.
During July 2012, US$ is considered as safe haven compared to Gold. Since the survival of Euro is a big question market to most of the people, people holding Euros in their portfolio reduced their position on Euro and took huge position on other currencies that is mainly US$ and then commodities such as Gold and Silver.
Market will trade most of the days with technicals only but remember that fundamental will always win and that is major trand changing indicators. Betting based on fundamental can also be considered as gambling since it creates huge profits only on certain specific dates. If you are smart, always watch fundamental but give importance to technicals while trading to take advantages of both factors.