Abstract: Define as the currency of the last resort, gold has historically been
seen as the ultimate hedge against inflation. However, recent research has
founded that the commodity provides a unique source of diversification to an
investor’s portfolio. This study investigates the long-run relationship between
gold and a set of financial variables based on daily data from January 1990
to June 2016, then use this relationship as a fair value and see what sort of
interpretation we can do with the results.
Link ==> Gold Studies