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Available. Open Access. Open Access
Article
Publication date: 27 November 2019

Jorge Guillen Uyen

366

Abstract

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 48
Type: Research Article
ISSN: 2077-1886

Available. Open Access. Open Access
Article
Publication date: 5 June 2019

Jorge Guillen Uyen

401

Abstract

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 47
Type: Research Article
ISSN: 2077-1886

Available. Open Access. Open Access
Article
Publication date: 15 June 2020

Jorge Guillen Uyen

427

Abstract

Details

Journal of Economics, Finance and Administrative Science, vol. 25 no. 49
Type: Research Article
ISSN: 2077-1886

Available. Open Access. Open Access
Article
Publication date: 13 February 2018

Mohammad Hassan Shakil, Is’haq Muhammad Mustapha, Mashiyat Tasnia and Buerhan Saiti

The argument whether gold is a hedge or haven is a debatable issue. Mainly, hedge is a class of asset that is negatively correlated with another asset or portfolio on average. On…

6409

Abstract

Purpose

The argument whether gold is a hedge or haven is a debatable issue. Mainly, hedge is a class of asset that is negatively correlated with another asset or portfolio on average. On the other hand, a safe haven is an asset or portfolio which is negatively correlated with another asset or portfolio at the time of market turmoil. Therefore, the purpose of this research is to take Saudi Arabia as an example to examine the relationship of gold price in Saudi Arabia with key determinants such as the stock market index, oil prices, exchange rate, interest rate and consumer price index (CPI) by application of the autoregressive distributed lag model (ARDL).

Design/methodology/approach

The ARDL analysis was employed by using six variables based on the application of monthly time series data that were collected from 2011 to 2015.

Findings

From the present analysis, it has been discovered that gold is useful as a portfolio hedge and as a hedge against inflation because it is not affected by the CPI. External factors, for example, financial crisis, may be harmful to the CPI, thus adding a certain percentage of gold in the investment portfolio may assist in decreasing the level of risk at the time of financial turmoil.

Originality/value

Because gold seems to be a useful portfolio hedge, as well as an inflation hedge, government policies to curb the import of gold may be futile. The present research suggests that policies that directly address the causes of inflation and provide alternative investment opportunities for retail investors may better serve the objective of decreasing gold imports.

Details

Journal of Economics, Finance and Administrative Science, vol. 23 no. 44
Type: Research Article
ISSN: 2077-1886

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