As gold drops back from a peak of nearly $5,600 to back under $5,000 the Q. is:
Is this a reversal of recent trends (throwing doubt on the safe haven argument) or just profit taking at the top of the market.
Much will depend on how gold 'performs' next week; if it settles above $4,500 holding the rise of recent months then the safe haven argument (and if implications for projection of global crisis) holds... but if it continues to drop back then one might look for other explanations.