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

Brian M. Lucey

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

Jonathan A. Batten

RMIT University

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

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)

Jiangxi University of Finance and Economics ( email )

South Lushan Road
Nanchang, Jiangxi 330013
China

Abu Dhabi University - College of Business Administration ( email )

PO Box 59911
Abu Dhabi, Abu Dhabi 59911
United Arab Emirates

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

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

Jonathan A. Batten

RMIT University ( email )

Level 12, 239 Bourke Street
Melbourne, Victoria
Australia

HOME PAGE: http://https://www.rmit.edu.au/contact/staff-contacts/academic-staff/b/batten-professor-jonathan

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

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
1,837
Abstract Views
7,223
Rank
16,957
PlumX Metrics