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Applied Financial Economics Volume 23, 2013 - Issue 19
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Original Articles

Should gold be included in institutional investment portfolios?

Ole Emmrich Southampton Management School, University of Southampton, Southampton, UK
&
Francis Joseph McGroarty Southampton Management School, University of Southampton, Southampton, UKCorrespondence[email protected]
Pages 1553-1565 | Published online: 01 Oct 2013

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Alice Buccioli & Thomas Kokholm. (2022) Shock waves and golden shores: the asymmetric interaction between gold prices and the stock market. The European Journal of Finance 28:7, pages 743-760.
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Gerald R. Jensen, Robert R. Johnson & Kenneth M. Washer. (2018) All That’s Gold Does Not Glitter. Financial Analysts Journal 74:1, pages 59-76.
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Ruzhao Gao & Bing Zhang. (2016) How does economic policy uncertainty drive gold–stock correlations? Evidence from the UK. Applied Economics 48:33, pages 3081-3087.
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Articles from other publishers (38)

Viktor Koziuk. (2023) The Geopolitical “Puzzle” of the Central Bank’s Switch to Gold. ECONOMICS 11:2, pages 225-243.
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Kim Oosterlinck, Ariane Reyns & Ariane Szafarz. (2023) Gold, bitcoin, and portfolio diversification: Lessons from the Ukrainian war. Resources Policy 83, pages 103710.
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Prachi Jain, Debasish Maitra, Ron P. McIver & Sang Hoon Kang. (2023) Quantile dependencies and connectedness between stock and precious metals markets. Journal of Commodity Markets 30, pages 100284.
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Sruthy Madhavan & S. Sreejith. (2022) A Comparative Analysis on the Role and Market Linkages of Gold Backed Assets During COVID-19 Pandemic. Scientific Annals of Economics and Business 69:3, pages 417-433.
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Lê Văn & Nguyễn Khắc Quốc Bảo. (2022) The relationship between global stock and precious metals under Covid-19 and happiness perspectives. Resources Policy 77, pages 102634.
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Viktor KOZIUK. (2022) DRIVERS OF GOLD FRACTION IN GLOBAL EXCHANGE RESERVES. JOURNAL OF EUROPEAN ECONOMY:Vol 21, No 2 (2022), pages 137-153.
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OlaOluwa S. Yaya, Xuan Vinh Vo & Hammed A. Olayinka. (2021) Gold and silver prices, their stocks and market fear gauges: Testing fractional cointegration using a robust approach. Resources Policy 72, pages 102045.
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Charoula Daskalaki. (2021) New evidence on commodity stocks. Journal of Futures Markets 41:6, pages 811-874.
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Mohamed Bilel Triki & Abderrazek Ben Maatoug. (2021) The GOLD market as a safe haven against the stock market uncertainty: Evidence from geopolitical risk. Resources Policy 70, pages 101872.
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Richard C.K. Burdekin & Ran Tao. (2021) The golden hedge: From global financial crisis to global pandemic. Economic Modelling 95, pages 170-180.
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Brian M. Lucey, Maurice Peat, Aleksandar Šević & Samuel A. Vigne. (2019) What is the optimal weight for gold in a portfolio?. Annals of Operations Research 297:1-2, pages 277-291.
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Vasilios Plakandaras, Periklis Gogas & Theophilos Papadimitriou. (2020) Gold Against the Machine. Computational Economics 57:1, pages 5-28.
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Dirk G. Baur, Hubert Dichtl, Wolfgang Drobetz & Viktoria-Sophie Wendt. (2020) Investing in gold – Market timing or buy-and-hold?. International Review of Financial Analysis 71, pages 101281.
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Gilles Boevi Koumou. (2020) Diversification and portfolio theory: a review. Financial Markets and Portfolio Management 34:3, pages 267-312.
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Nafeesa Yunus. (2020) Time-varying linkages among gold, stocks, bonds and real estate. The Quarterly Review of Economics and Finance 77, pages 165-185.
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Sajid Ali, Elie Bouri, Robert Lukas Czudaj & Syed Jawad Hussain Shahzad. (2020) Revisiting the valuable roles of commodities for international stock markets. Resources Policy 66, pages 101603.
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Rajesh Pathak, Ranjan Das Gupta, Cleiton Guollo Taufemback & Aviral Kumar Tiwari. (2020) Testing the efficiency of metal's market: new evidence from a generalized spectral test. Studies in Economics and Finance 37:2, pages 311-321.
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Le Thanh TUNG. (2019) Does the Gap between Domestic and International Gold Price Affect Money Demand?: Evidence from Vietnam. The Journal of Asian Finance, Economics and Business 6:3, pages 163-172.
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Manas Paul, Niyati Bhanja & Arif Billah Dar. (2019) Gold, gold mining stocks and equities- partial wavelet coherence evidence from developed countries. Resources Policy 62, pages 378-384.
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Dirk G. Baur & Josua Oll. (2019) From financial to carbon diversification – The potential of physical gold. Energy Economics 81, pages 1002-1010.
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Michael Murach. (2019) Global Determinants of the Gold Price: A Multivariate Cointegration Analysis. Scottish Journal of Political Economy 66:1, pages 198-214.
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Arif Billah Dar, Niyati Bhanja & Manas Paul. (2019) Do gold mining stocks behave like gold or equities? Evidence from the UK and the US. International Review of Economics & Finance 59, pages 369-384.
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Zhen He, Fergal O'Connor & Jacco Thijssen. (2018) Is gold a Sometime Safe Haven or an Always Hedge for equity investors? A Markov-Switching CAPM approach for US and UK stock indices. International Review of Financial Analysis 60, pages 30-37.
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Balagopal Gopalakrishnan & Sanket Mohapatra. (2018) Turning over a golden leaf? Global liquidity and emerging market central banks’ demand for gold after the financial crisis. Journal of International Financial Markets, Institutions and Money 57, pages 94-109.
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Shubhasis Dey & Aravind Sampath. (2018) Dynamic linkages between gold and equity prices: Evidence from Indian financial services and information technology companies. Finance Research Letters 25, pages 41-46.
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Luis A. Otero & Juan C. Reboredo. (2018) The performance of precious-metal mutual funds: Does uncertainty matter?. International Review of Financial Analysis 57, pages 13-22.
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Jonathan A. Batten, Brian M. Lucey, Frank McGroarty, Maurice Peat & Andrew Urquhart. (2018) Does intraday technical trading have predictive power in precious metal markets?. Journal of International Financial Markets, Institutions and Money 52, pages 102-113.
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Don Bredin, Thomas Conlon & Valerio Potì. (2017) The price of shelter - Downside risk reduction with precious metals. International Review of Financial Analysis 49, pages 48-58.
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Javier Estrada. (2016) Alternatives: How? How Much? Why? . The Journal of Wealth Management 19:3, pages 49-61.
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Osman Gülseven & Özgün Ekici. (2016) The Turkish appetite for gold: An Islamic explanation. Resources Policy 48, pages 41-49.
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Fergal A. O'Connor, Brian M. Lucey, Jonathan A. Batten & Dirk G. Baur. (2015) The financial economics of gold — A survey. International Review of Financial Analysis 41, pages 186-205.
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Taufiq Choudhry, Syed S. Hassan & Sarosh Shabi. (2015) Relationship between gold and stock markets during the global financial crisis: Evidence from nonlinear causality tests. International Review of Financial Analysis 41, pages 247-256.
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Amélie Charles, Olivier Darné & Jae H. Kim. (2015) Will precious metals shine? A market efficiency perspective. International Review of Financial Analysis 41, pages 284-291.
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Dirk G. Baur & Josua Oll. (2017) The Role of Gold and the VIX in Investment Portfolios A Financial and Sustainability Perspective. SSRN Electronic Journal.
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Javier Estrada. (2016) Alternatives: How? How Much? Why?. SSRN Electronic Journal.
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Don Bredin, Thomas Conlon & Valerio Pott. (2016) The Price of Shelter - Downside Risk Reduction with Precious Metals. SSRN Electronic Journal.
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Fergal A. O'Connor, Brian M. Lucey, Jonathan A. Batten & Dirk G. Baur. (2015) The Financial Economics of Gold A Survey. SSRN Electronic Journal.
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Amelie Charles, Olivier Darnn & Jae H. Kim. (2014) Will Precious Metals Shine? A Market Efficiency Perspective. SSRN Electronic Journal.
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