The Dynamics of Gold Prices, Gold Mining Stock Prices and Stock Market Prices Comovements

Gilmore, Claire G.; McManus, Ginette M.; Sharma, Rajneesh; Tezel, Ahmet

doi:10.5296/rae.v1i1.301

Cited by 32 publications

(25 citation statements)

References 14 publications

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“…Moreover, Gilmore et al (2009) use co-integration tests and a vector-error correction (VEC) model to examine the dynamic relationship between gold price, stock indices of gold mining companies and broad stock market indices. The research based on VEC model reveals that both gold and large capitalization stock prices tend to restore the long-term equilibrium following shocks to the variables, with the gold price adjusting more rapidly.…”

Section: Literature Reviewmentioning

confidence: 99%

Gold price and stock markets nexus under mixed-copulas

et al. 2016

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Section: Literature Reviewmentioning

confidence: 99%

Gold price and stock markets nexus under mixed-copulas

et al. 2016

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“…Yahyazadehfar and Babaie (2012), and Le and Chang (2012) found significant relationship between stock market prices and gold prices and state that stock market is a reason for increasing gold rate. Gilmore et al (2009) There is apparent evidence that in turbulent periods with economic uncertainty, as equity prices fall gold price rises and attention focuses on gold as a safe haven.…”

Section: Oil Price Versus Stock Pricesmentioning

confidence: 99%

Oil, gold, US dollar and stock market interdependencies: a global analytical insight

Arfaoui

Rejeb

2017

EJMBE

114

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This paper takes a global perspective in examining relationships among oil, gold, US dollar and stock prices, using simultaneous equations system to identify direct and indirect linkages for the period spanning from January 1995 to October 2015. Results show significant interactions between the all parties. Indeed, we found negative relation between oil and stock prices but oil price is significantly and positively affected by stock markets, gold and USD. Oil price is also affected by oil future prices and by Chinese oil gross imports. Gold price is concerned by changes in oil, USD and stock market prices but slightly depend on US oil imports and corporate default premium. The US dollar is negatively affected by stock market and significantly by oil and gold prices and also by US consumer price index. Indirect effects always exist which confirm the presence of global interdependencies and involve the financialization process of commodity markets.

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“…Claire, Ginette, Rajneesh and Ahmet [8] in this paper they are trying to expose that impact of macroeconomic variables on the Korea stock exchange and for this purpose they have used the cointegration and causality test. Their results have shown that there is short run relationship between them.…”

Section: Literature Reviewmentioning

confidence: 99%

Gold and Oil Prices Versus Stock Exchange: A Case Study of Pakistan

Najaf¹,

Najaf²,

Yousaf³

2016

J Account Mark

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Due to global financial crisis, around the all over the world all developing and under developing countries are facing the low trading profit. In most of the developing country like Pakistan, there is low investment level due to political instability. Due to this condition Karachi stock exchange has the worst sell. Karachi stock exchange is known as the oldest and more profitable stock exchange of Pakistan. Oil and gold prices are attracting investors towards there not in the stock exchange. This thing is the barrier for the progress of the development of the country. This paper is trying to expose that stock market is going to down due to these variables. For checking the impact of oil and gold prices on the Karachi stock exchange we have used that secondary data for this study. For this purpose we have taken data from Karachi stock exchanges from the period of 1996 to 2013. We have applies correlation matrix for this purpose. The result has shown that KSE 100 has return is 0.014503 and GDP 0.058793, gold 0.012026 and oil 0.00919. Karachi stock exchange return has standard value is 0.089982, while gold standard deviation 0.038716 and oil standard deviation value is 0.103375. The correlations have shown that in these markets there is not positive relationship. Karachi stock exchange and GDP have inverse relationship with gold market. These results have also shown that oil growth has a significant relationship with KSE100 and GDP. For the predication correlation is not considering an authentic measure.

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The Dynamics of Gold Prices, Gold Mining Stock Prices and Stock Market Prices Comovements

Cited by 32 publications

References 14 publications

Gold price and stock markets nexus under mixed-copulas

Gold price and stock markets nexus under mixed-copulas

Oil, gold, US dollar and stock market interdependencies: a global analytical insight

Gold and Oil Prices Versus Stock Exchange: A Case Study of Pakistan

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