Abstract

http://ssrn.com/abstract=2148691
 
 

Citations (1)



 


 



An Impressionistic View of the 'Real' Price of Gold Around the World


Claude B. Erb


TR

Campbell R. Harvey


Duke University - Fuqua School of Business; National Bureau of Economic Research (NBER)

September 18, 2012


Abstract:     
The “real” price of gold in the U.S. is historically high, relative to its history as an actively tradable asset. But what about the real price of gold in other countries? It turns out that, in our impressionistic sample of 23 countries, the real price of gold is high everywhere. The real price of gold is high in “troubled” countries as well as in “safe” countries. If the real price of gold is a barometer of perceived troubles then there is trouble everywhere. Or, alternatively, gold is just expensive everywhere.

This research is motivated by our earlier paper, Erb and Harvey (2012), The Golden Dilemma.

Number of Pages in PDF File: 29

Keywords: Gold value, Gold fundamentals, Inflation, Real gold, Foreign exchange

JEL Classification: G11, G12, G13, G28, F31, E31

working papers series





Download This Paper

Date posted: September 19, 2012 ; Last revised: September 20, 2012

Suggested Citation

Erb, Claude B. and Harvey, Campbell R., An Impressionistic View of the 'Real' Price of Gold Around the World (September 18, 2012). Available at SSRN: http://ssrn.com/abstract=2148691 or http://dx.doi.org/10.2139/ssrn.2148691

Contact Information

Claude B. Erb
TR ( email )
CA 90272
United States
Campbell R. Harvey (Contact Author)
Duke University - Fuqua School of Business ( email )
Box 90120
Durham, NC 27708-0120
United States
919-660-7768 (Phone)
919-660-8030 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Feedback to SSRN


Paper statistics
Abstract Views: 10,927
Downloads: 2,802
Download Rank: 1,969
Citations:  1

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo8 in 0.281 seconds