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The financial economics of gold — A survey

O'Connor, Fergal, Lucey, Brian, Baur, Dirk and Batten, Jonathan (2015) The financial economics of gold — A survey. International Review of Financial Analysis, 41. pp. 186-205.

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Abstract

We review the literature on gold as an investment. We summarize a wide variety of literature, including the
papers in this special issue of International Review of Financial Analysis to which this survey acts as an editorial
introduction. We begin with a review of how the gold markets operate, including the underresearched 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.

Item Type: Article
Status: Published
DOI: https://doi.org/10.1016/j.irfa.2015.07.005
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Q Science > QE Geology
School/Department: York Business School
URI: http://ray.yorksj.ac.uk/id/eprint/1416

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