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Psychological barriers in gold prices?

  • Aggarwal, Raj
  • Lucey, Brian M.

This paper examines for the first time the existence of psychological barriers in a variety of daily and intra-day gold price series. This paper uses a number of statistical procedures and presents evidence of psychological barriers in gold prices. We document that prices in round numbers act as barriers with important effects on the conditional mean and variance of the gold price series around psychological barriers. Classification-

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File URL: http://www.sciencedirect.com/science/article/B6W61-4K5HWSJ-1/2/646b55f151c216ebc3be845537588bed
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Article provided by Elsevier in its journal Review of Financial Economics.

Volume (Year): 16 (2007)
Issue (Month): 2 ()
Pages: 217-230

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Handle: RePEc:eee:revfin:v:16:y:2007:i:2:p:217-230
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620170

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  16. Marshall, Michael & Stengos, Thanasis, 1994. "Employing conditional variance processes to examine the market efficiency of the gold rates of return," Journal of Economics and Business, Elsevier, vol. 46(5), pages 355-365, December.
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