IDEAS home Printed from
   My bibliography  Save this article

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


  • Raman Preet Singh

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

  • Nawal Kishor

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


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.

Suggested Citation

  • Raman Preet Singh & Nawal Kishor, 2014. "Co-Integration of Gold Price Movement with Nifty Indices: A Study in Indian Context," Transnational Corporations Review, Ottawa United Learning Academy, vol. 6(1), pages 42-57, March.
  • Handle: RePEc:oul:tncr09:v:6:y:2014:i:1:p:42-57

    Download full text from publisher

    File URL:
    Download Restriction: no


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oul:tncr09:v:6:y:2014:i:1:p:42-57. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Denny Liao) or (Jen Ma). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.