What Precious Metals Act as Safe Havens, and When? Some US Evidence

17 Pages Posted: 4 Oct 2013 Last revised: 8 Feb 2017

See all articles by Brian M. Lucey

Brian M. Lucey

Trinity Business School, Trinity College Dublin; Ho Chi Minh City University of Economics and Finance; Jiangxi University of Finance and Economics

Sile Li

Trinity Business School, Trinity College Dublin

Date Written: September 1, 2013

Abstract

Gold’s role as a safe haven asset has been intensively studied in recent years. This paper extends the precious metals literature and examines the safe haven properties of four precious metals (gold, silver, platinum and palladium) against US stock and bond declines. We also examine how these results change over time. Results suggest that during some periods silver, platinum and palladium act as safe havens when gold does not. In some periods one or more of the other assets acts a stronger safe haven than does gold.

Keywords: Safe Haven, gold, silver, platinum, palladium

JEL Classification: G10, G19

Suggested Citation

Lucey, Brian M. and Li, Sile, What Precious Metals Act as Safe Havens, and When? Some US Evidence (September 1, 2013). Applied Economics Letters, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2335402 or http://dx.doi.org/10.2139/ssrn.2335402

Brian M. Lucey (Contact Author)

Trinity Business School, Trinity College Dublin ( email )

The Sutherland Centre, Level 6, Arts Building
Dublin 2
Ireland
+353 1 608 1552 (Phone)
+353 1 679 9503 (Fax)

Ho Chi Minh City University of Economics and Finance ( email )

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Ho Chi Minh City, Ho Chi Minh 70000
Vietnam

Jiangxi University of Finance and Economics ( email )

South Lushan Road
Nanchang, Jiangxi 330013
China

Sile Li

Trinity Business School, Trinity College Dublin ( email )

2-3 College Green
Dublin, D2
Ireland

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