Do currency exchange rates impact gold prices? New evidence from the ongoing COVID-19 period

Tanin, Tauhidul Islam; Sarker, Ashutosh; Brooks, Robert

doi:10.1016/j.irfa.2021.101868

Cited by 10 publications

(4 citation statements)

References 45 publications

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“…During the present period of financial volatility and uncertainty, investors must take this oil–gold prices nexus into account. Furthermore, we find that gold exhibits safe-haven characteristics during COVID-19 consistent with Tanin et al (2021b) and Salisu et al (2020) , although Disli et al (2021) discover otherwise.…”

Section: Discussionmentioning

confidence: 60%

“…Gold is perceived as a safe-haven asset 2 ( Beckmann et al, 2019 ; Harris and Shen, 2017 ; Ji et al, 2020 ; Mensi et al, 2017 ; Tanin et al, 2022 , Tanin et al, 2021b , Tanin et al, 2021c ), and investors buy gold as a hedging instrument ( Singhal et al, 2019 ). Further, gold helps investors diversify their portfolios, thereby minimizing macroeconomic risk ( Agyei-Ampomah et al, 2014 ; Balcilar et al, 2016 ; Baur and Lucey, 2010 ; Baur and McDermott, 2010 ; Beckmann et al, 2019 , Beckmann et al, 2015 ; Bilgin et al, 2018 ; Bouoiyour et al, 2018 ; Gürgün and Ünalmiş, 2014 ; Reboredo, 2013 ).…”

Section: Introductionmentioning

confidence: 99%

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Does oil impact gold during COVID-19 and three other recent crises?

et al. 2022

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Section: Discussionmentioning

confidence: 60%

Section: Introductionmentioning

confidence: 99%

Does oil impact gold during COVID-19 and three other recent crises?

et al. 2022

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“…In a study by Tanin et al, (2021), they examined the relationships between seven leading exchange rates and gold prices using daily data from January 2017 to April 2021. The results of the study revealed that gold is a safe-haven asset for investors during COVID-19.…”

Section: Post-covid-19 Studies In the Literaturementioning

confidence: 99%

“…Some of these studies were conducted prior to COVID-19 (Soytas et al, 2009;Narayan et al, 2010;Zhang and Wei, 2010;Ewing and Malik, 2013;Bedoui et al, 2019), while others were conducted after the COVID-19 pandemic. (Tanin et al, 2021;Gharib et al, 2021;Selvanathan and Selvanathan, 2022).…”

Section: Introductionmentioning

confidence: 99%

Analyzing the Relationship between Oil Prices and Gold Prices before and after COVID-19

Huseynli

2023

IJEEP

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The main purpose of this study is to investigate the causal relationship between world oil prices and gold prices. For this purpose, the study is divided into two groups and evaluated as pre-pandemic and post-pandemic. The data set required for the study is evaluated on a daily basis and includes the period from January 2011 to June 2022. For the data of the examined variables, the stationary test was carried out by using the Extended DickeyFuller (ADF) unit root test. In the case of level, it is concluded that the related series are not stationary for these variables. According to the ADF and Johansen cointegration results obtained by applying the first-order difference operation, it was determined that the first-order differences of the variables of interest were stationary, that is, there was no unit root. The Engle-Granger test was used to determine whether there is a long-term relationship between the two variables. The direction of the relationship was tried to be determined by using the Granger causality test. As a result of the study, it was concluded that there is a one-way causality relationship from gold prices to oil prices, before the pandemic.

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