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Co-Integration of Gold Price Movement with Nifty Indices: A Study in Indian Context

Listed author(s):
  • Raman Preet Singh


    (Guru Gobind Singh Indraprashtha University, Pitam Pura, Delhi)

  • Nawal Kishor


    (Indira Gandhi National Open University, New Delhi, India)

Registered author(s):

    India is the world¡¯s largest importer of gold and imported about 830 tons of gold in 2012-13. In this paper, an attempt has been made to investigate the existence of unidirectional or bi-directional relationship between the gold price and Nifty Indices. The relationship has been investigated using the gold prices and Nifty statistics for the period 2002-2013. Augmented Dickey Fuller Test (ADF) and Johansen Co-integration Tests were applied to find whether variables are stationary and whether there were any long-term relationships between them. Granger Causality Test shows that there is no causality between the gold price and Nifty Indices.

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    Article provided by Ottawa United Learning Academy in its journal Transnational Corporations Review.

    Volume (Year): 6 (2014)
    Issue (Month): 1 (March)
    Pages: 42-57

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    Handle: RePEc:oul:tncr09:v:6:y:2014:i:1:p:42-57
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