Are Gold Bugs Coherent?

13 Pages Posted: 23 Jan 2016

See all articles by Brian M. Lucey

Brian M. Lucey

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

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

Date Written: January 22, 2016

Abstract

We use wavelet models to surface the relationship between gold miners stock prices and the price of gold. We find that there is little relationship in the short run but some significant and long standing long run relationships. Gold prices appear to lead gold miner stock prices.

Keywords: gold mining, gold miners, substitution, wavelets

JEL Classification: C14, G12

Suggested Citation

Lucey, Brian M. and O'Connor, Fergal A., Are Gold Bugs Coherent? (January 22, 2016). Available at SSRN: https://ssrn.com/abstract=2720324 or http://dx.doi.org/10.2139/ssrn.2720324

Brian M. Lucey (Contact Author)

Trinity Business School, Trinity College Dublin ( email )

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Dublin 2
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University of Sydney Business School ( email )

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Australia

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

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Ho Chi Minh City, Ho Chi Minh 70000
Vietnam

Jiangxi University of Finance and Economics ( email )

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Nanchang, Jiangxi 330013
China

Fergal A. O'Connor

University College Cork ( email )

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Cork
Ireland

University of York - The York Management School ( email )

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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 D2
Ireland

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