This paper examines the degree of correlation and possible causation between the prices of gold, oil, short- and long-term interest rates, U.S. equities and the U.S. currency value against the Euro and British Pound. The data set utilizes daily returns for the period between the beginning of...

The 2008 financial crisis refocused investors' attention to several safe-haven assets, most notably gold and US Treasuries. We compare the role of these two assets as potential hedge instruments for thirteen major indexes' returns and their volatilities. Our study extends the literature by using...