You hear it again and again. When markets get volatile or uncertainties spike, buy gold. It's traditionally considered one of the safer assets because it acts as a store of value. But the precious metal pays neither a dividend, coupon nor rent.
So we crunched the numbers using data analytics platform Kensho to find out whether gold's safe haven status really holds up.
According to statistics going back to 2005, a bet on gold in times of market turbulence is often no better than a coin toss.
When uncertainty, as measured by the CBOE Volatility Index, surges 80 percent or more in a single month, the precious metal trades negative half the time and on average, it loses more than 1 percent.