When times get tough, gold is golden

Areal, Nelson; Oliveira, Benilde; Sampaio, Raquel Menezes Bezerra

doi:10.1080/1351847x.2013.854821

Cited by 46 publications

(19 citation statements)

References 25 publications

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“…OConnor et al (2015) however finds that that the gold price leads production costs suggesting that an examination of gold mining companies as alternatives is not a useful path. This finding is in line with the results of Areal et al (2013) who find little benefit from a safe haven perspective of investing in gold mining companies.…”

supporting

confidence: 82%

Are gold bugs coherent?

Lucey

O’Connor

2016

Applied Economics Letters

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supporting

confidence: 82%

Are gold bugs coherent?

Lucey

O’Connor

2016

Applied Economics Letters

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“…In fact, the increasing uncertainty and fluctuations of crude oil prices are widely associated to the international economic states including among others inflation, interest rates, economic activity fiscal policy, and dollar exchange rates as well as the geopolitical events such political events, military tensions, serious climate changes, natural catastrophes. Such these uncertainties enhance the volatility of crude oil market, leading to quick oil price changes and as a result to an increase in their inefficiency levels ( Areal et al, 2015 ; Ciner, 2001 ; Fan et al, 2008 ; Hammoudeh et al, 2010 ; Kaufmann and Winters, 1989 ; Rockerbie, 1999 ). During COVID-19 pandemic outbreak, the speed of information transmission and the existence of profit opportunities augment significantly in these strategic commodity markets.…”

Section: Discussionmentioning

confidence: 99%

Impact of COVID-19 outbreak on asymmetric multifractality of gold and oil prices

et al. 2020

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This paper examines the impacts of COVID-19 on the multifractality of gold and oil prices based on upward and downward trends. We apply the Asymmetric Multifractal Detrended Fluctuation Analysis (A-MF-DFA) approach to 15-min interval intraday data. The results show strong evidence of asymmetric multifractality that increases as the fractality scale increases. Moreover, multifractality is especially higher in the downside (upside) trend for Brent oil (gold), and this excess asymmetry has been more accentuated during the COVID-19 outbreak. Before the outbreak, the gold (oil) market was more inefficient during downward (upward) trends. During the COVID-19 outbreak period, we see that the results have changed. More precisely, we find that gold (oil) is more inefficient during upward (downward) trends. Gold and oil markets have been inefficient, particularly during the outbreak. The efficiency of gold and oil markets is sensitive to scales, market trends, and to the pandemic outbreak, highlighting the investor sentiment effect.

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“…2. Dynamics of joint gold and currency reserves of the world countries with most gold reserves for 2010-2017: made by the author according to data [4,11,20] The dynamics demonstrates that most stable volumes of gold reserves during the aforesaid time are inherent to USA, Italy, France, Switzerland, Japan, Netherlands, India. The essential increment of gold is observed in China (by 74.8 % in 2017 comparing with 2010) and Russia (almost by 139 % for the last seven years).…”

Section: Resultsmentioning

confidence: 99%

Determinant of the Development of the Precious Metals Market and Peculiarities of Investments in Precious Metals

Ksenzhuk

2018

EUREKA: Social and Humanities

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It is argued that precious metals function as an attractive investment means for hedging in the period of appearing high liquidity risks of other financial assets. There was revealed the rationality of using precious metals not only for protecting from high risks and also for profit making. It was established, that favoring the development of the market of precious metals improves the financial-investment climate of a country. Precious metals function as a valuable asset that improves the credit trust level and prevent crises of efficiency, liquidity and default. There is grounded the influence of globalization on functioning of the world market of precious metals and their investment attractiveness. Factors that influence the development of the precious metals market are determined. The role of price formation in functioning and stability of the precious metals market is determined. There was argued, that the mechanism of price formation-is a multi-factor process; precious metals are indicators of the general state of world economy: gold draws the greatest attention of investment-seeking economic agents; platinum price indicates the state of economic and financial processes to the date; silver and palladium are found to be not elastic and highly dependent of demand created by industrial economic entities; gold is regarded as the financial asset of the highest liquidity level in the structure of gold and currency reserves across countries worldwide, ten countries keep leading positions, most of them demonstrate stable indices. The analysis of the dynamics of prices and modern tendencies at the world precious metals market allows to reveal their functional destinations as a means for determining a cost limit of a good, investment instrument, provident fund of the money system of a state, means of accumulation and creation of treasures, we can conventionally separate direct and intermediate factors that have the most influence on price formation of one or another precious metal.

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When times get tough, gold is golden

Cited by 46 publications

References 25 publications

Are gold bugs coherent?

Are gold bugs coherent?

Impact of COVID-19 outbreak on asymmetric multifractality of gold and oil prices

Determinant of the Development of the Precious Metals Market and Peculiarities of Investments in Precious Metals

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