In their September 2013 paper entitled «Time Variation in Precious
Metal Safe Haven Status — Evidence from the USA», Brian Lucey and Sile Li compare and contrast the effectiveness of four precious metals (gold, silver, platinum and palladium) as safe havens from sharp declines in U.S. stocks (the S&P 500 Index) and U.S. bonds (a 10 - year U.S. Treasury note index).