This paper attempts to reconcile an apparent contradiction between short‐run and long‐run
movements in the price of gold. The theoretical model suggests a set of conditions under …

This study deals with the issue whether gold actually exhibits the function of a hedge or a
safe haven as often referred to in the media and academia. In order to test the Baur and …

This paper investigates macroeconomic influences on gold using the asymmetric power
GARCH model (APGARCH) of [Ding, Z., Granger, CWJ, Engle, RF, 1993. Long memory …

This paper aims to study the role of gold as a hedge against inflation based on local monthly
gold prices in China, India, Japan, France, the United Kingdom and the United States of …

This study analyzes the question whether gold provides the ability of hedging against
inflation from a new perspective. Using data for four major economies, namely the USA, the …

In 1833 the price of gold was $20.65 per ounce, about $415 in 2005 terms, while in 2005 the
actual price of gold was $445-a very small change in the real price of gold over a period of …

How do changes in expected inflation affect gold prices? Using unexpected changes in the
Consumer Price Index (CPI) this paper shows that surprises in the CPI do not affect gold …

In this article, we provide a detailed characterization of the intraday return volatility in gold
futures contracts traded on the COMEX division of the New York Mercantile Exchange. The …

Gold was one of the first metals humans excavated. Gold as an asset has a hybrid nature: it
is a commodity used in many industries but also it has maintained throughout history a …

This study examines the short-run and long-run inflation hedging effectiveness of gold in the
United States and Japan during the period of January 1971 to January 2010. Previous …