error correction model for testing the hypothesis of dynamic hedging characteristics of gold on exchange rate. As the … existing literature has never considered that the foreign exchange risk hedged by gold is dynamic, this study can fill the … research gap in this area. The empirical results show that: First, gold can partly hedge against the depreciation of the …

Literature is replete with evidence of market integration between crude oil, gold and interest rates (IR) with the … conditional volatility association of gold, crude oil and yield (or IR) on the ER (the price of US$ in Indian rupee). The daily … association of gold, crude oil and the yield on the ER are significant for both shocks and persistence. It confirms the economic …

-EGARCH errors (Auto Regressive Moving Average Exponential AutoRegressive Conditional Heteroskedasticity). Our model considers gold … possibilities. In the short-run, ("Noise Trader" and "High-Frequency Trader") only a few equities are insensitive to Oil and Gold … the long-run, (fundamentalists investors), Oil and Gold affect all stocks but their impact varies according to the Beta …