The Effects of Economic Newson Commodity Prices: Is Gold Just Another Commodity?
The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activ...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2009
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Schriftenreihe: | IMF Working Papers
Working Paper No. 09/140 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold''s traditional role as a safe-haven and store of value. Other commodity prices, where such news is significant, exhibit pro-cyclical sensitivities and these have risen somewhat as commodities have become increasingly financialized. These results are important for those trading in the commodity markets on a frequent basis and long-term market participants that take their decisions based on information on price fundamentals, which are reflected in the release of macroeconomic announcements |
Beschreibung: | 1 Online-Ressource (28 p) |
ISBN: | 1451872879 9781451872873 |
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spelling | Roache, Shaun K. Verfasser aut The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? Roache, Shaun K Washington, D.C International Monetary Fund 2009 1 Online-Ressource (28 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 09/140 The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold''s traditional role as a safe-haven and store of value. Other commodity prices, where such news is significant, exhibit pro-cyclical sensitivities and these have risen somewhat as commodities have become increasingly financialized. These results are important for those trading in the commodity markets on a frequent basis and long-term market participants that take their decisions based on information on price fundamentals, which are reflected in the release of macroeconomic announcements Online-Ausg Rossi, Marco Sonstige oth http://elibrary.imf.org/view/IMF001/10268-9781451872873/10268-9781451872873/10268-9781451872873.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Roache, Shaun K. The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? |
title | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? |
title_auth | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? |
title_exact_search | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? |
title_exact_search_txtP | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? |
title_full | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? Roache, Shaun K |
title_fullStr | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? Roache, Shaun K |
title_full_unstemmed | The Effects of Economic Newson Commodity Prices Is Gold Just Another Commodity? Roache, Shaun K |
title_short | The Effects of Economic Newson Commodity Prices |
title_sort | the effects of economic newson commodity prices is gold just another commodity |
title_sub | Is Gold Just Another Commodity? |
url | http://elibrary.imf.org/view/IMF001/10268-9781451872873/10268-9781451872873/10268-9781451872873.xml |
work_keys_str_mv | AT roacheshaunk theeffectsofeconomicnewsoncommoditypricesisgoldjustanothercommodity AT rossimarco theeffectsofeconomicnewsoncommoditypricesisgoldjustanothercommodity |