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    Is gold always a safe haven?

    Access Status
    In process
    Authors
    Ryan, M.
    Corbet, S.
    Oxley, Leslie
    Date
    2024
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Ryan, M. and Corbet, S. and Oxley, L. 2024. Is gold always a safe haven? Finance Research Letters. 64.
    Source Title
    Finance Research Letters
    DOI
    10.1016/j.frl.2024.105438
    ISSN
    1544-6123
    Faculty
    Faculty of Business and Law
    School
    School of Accounting, Economics and Finance
    URI
    http://hdl.handle.net/20.500.11937/97470
    Collection
    • Curtin Research Publications
    Abstract

    This study reexamines the long-held view of gold as a universal safe haven during stock market downturns. Utilising a dataset from 1979 to 2020, we investigate the conditional nature of gold's safe-haven status with the S&P 500 index, revealing that the specific drivers of market declines determine the extent of gold's safe-haven status. Notably, gold's protective efficacy is pronounced during downturns specifically triggered by macroeconomic news but less evident in downturns triggered by other reasons. Our result challenges traditional perceptions and suggests investors adopt a contextual approach to identifying safe haven assets.

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