Assessing the safe haven property of the gold market during COVID-19 pandemic

Salisu, Afees A., Raheem, Ibrahim D. and Vo, Xuan Vinh (2021) Assessing the safe haven property of the gold market during COVID-19 pandemic. International Review of Financial Analysis, 74. ISSN 1057-5219

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This study examines the safe haven prowess of gold against some exogenous shocks due to the COVID-19 pandemic. We further make a comparison of our findings with those obtained for the period before it. Our results confirm the potential of gold market to serve as a safe haven during the pandemic albeit with a higher effectiveness before the pandemic. Further results suggest that gold consistently offers better safe haven properties than the US stocks as well as other precious metals like Silver, Palladium and Platinum regardless of the period. Finally, we find that the predictive model that accounts for uncertainties outperforms the benchmark model that ignores the same both for the in- and out-of-sample forecast analyses.

Item Type: Article
Uncontrolled Keywords: covid-19,gold,predictability,safe haven,uncertainty,finance,economics and econometrics ,/dk/atira/pure/subjectarea/asjc/2000/2003
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Depositing User: LivePure Connector
Date Deposited: 26 Jul 2022 14:30
Last Modified: 22 Oct 2022 16:34
DOI: 10.1016/j.irfa.2021.101666

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