Last Man Standing: Gold
Global capital seeking safe-havens has one less place to flee after the announcement that the Swiss Franc will now be pegged to the Euro. This, combined with the recent downgrading of the US Treasury debt from AAA to AA, has left only one rock-solid safe-haven for investors: gold. Here's the rundown on the Swiss Franc devaluation.

Another Reason to Buy Gold: Franc Losing Safety Status
By: Jeff Cox
CNBC.com Senior Writer

Just as talk had begun to intensify about a gold bubble building, the metal got another boost Tuesday when the Swiss National Bank announced measures to decrease the value of the franc.

The SNB's move was widely viewed as positive for gold because the metal will gain even more popularity as a safe-haven investment of choice.

For the past 14 months—and, in fact, since Lehman Brothers failed in September 2008—the franc has experienced a parabolic rise as financial instability beset many of its neighbors as well as the US.

But the Swiss central bank, faced with worries that the ever-strengthening currency would jeopardize the country's export-based economy, announced an aggressive cap for the franc's value against the euro.

Consequently, the currency tumbled more than 8 percent in Tuesday trade. Gold, while down narrowly amid a global asset selloff, is expected to fare well in the days ahead.

"With Japan massively intervening in the (currency) market and the Swiss effectively curbing the safe-haven status of the Swiss franc today, we only really have gold as the last-standing safe-haven currency around," David Rosenberg, senior economist and strategist at Gluskin Sheff in Toronto, wrote in his daily note. "While the US dollar has liquidity, it unfortunately has a debt burden alongside it that gold does not."

Rest of article here.