UBS says Swiss franc, gold no longer investment havens

ZURICH Dec 16 (Reuters) - The Swiss franc and investments in gold will no longer provide investors with safe harbor from market turmoil and the eurozone debt crisis, UBS's investment chief told the Swiss bank's client in a letter Friday.

"As we enter 2012, neither gold nor the Swiss franc retains a safe haven status," UBS Chief Investment Officer Alexander Friedman wrote in the letter.

In September, the Swiss National Bank vowed to cap the franc at 1.20 per euro, a level it pledged to defend this week at a regular rate-setting session. The September move effectively removed the Swiss franc from havens including gold, U.S. treasuries and Japanese government bonds, UBS's Friedman said. (Reporting By Katharina Bart)