The Financial Economics of Gold – A Survey

60 Pages Posted: 9 Jul 2015

See all articles by Fergal A. O'Connor

Fergal A. O'Connor

University College Cork; University of York - The York Management School; University of Dublin - Business School and Institute for International Integration Studies

Brian M. Lucey

Trinity Business School, Trinity College Dublin; University of Sydney Business School; University of Economics Ho Chi Minh City

Jonathan A. Batten

Universiti Utara Malaysia

Dirk G. Baur

University of Western Australia - Business School; Financial Research Network (FIRN)

Date Written: July 8, 2015

Abstract

We review the literature on gold as an investment. We begin with a review of how the gold markets operate, including the under researched leasing market; we proceed to examine research on physical gold demand and supply, gold mine economics and move onto analyses of gold as an investment. Additional sections provide context on gold market efficiency, the issue of gold market bubbles, gold’s relation to inflation and interest rates, and the very nascent literature on the behavioural aspects of gold.

Keywords: Gold, survey, review

JEL Classification: E44, F33, G15, L72, Q31

Suggested Citation

O'Connor, Fergal A. and Lucey, Brian M. and Batten, Jonathan A. and Baur, Dirk G., The Financial Economics of Gold – A Survey (July 8, 2015). FIRN Research Paper No. 2628018. Available at SSRN: https://ssrn.com/abstract=2628018 or http://dx.doi.org/10.2139/ssrn.2628018

Fergal A. O'Connor

University College Cork ( email )

College Road
Cork
Ireland

University of York - The York Management School ( email )

Sally Baldwin Buildings
Heslington
York, North Yorkshire YO10 5DD
United Kingdom

University of Dublin - Business School and Institute for International Integration Studies ( email )

2-3 College Green
Dublin, Leinster
Ireland

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)

University of Sydney Business School ( email )

Cnr. of Codrington and Rose Streets
Sydney, NSW 2006
Australia

University of Economics Ho Chi Minh City ( email )

59C Nguyen Dình Chieu
6th Ward, District 3
Ho Chi Minh City, Ho Chi Minh 70000
Vietnam

Jonathan A. Batten

Universiti Utara Malaysia ( email )

School of Economics, Finance and Banking
Sintok, Kedah 06010
Malaysia

Dirk G. Baur

University of Western Australia - Business School ( email )

School of Business
35 Stirling Highway
Crawley, Western Australia 6009
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Register to save articles to
your library

Register

Paper statistics

Downloads
823
rank
27,042
Abstract Views
3,270
PlumX Metrics