Gold as a Portfolio Diversifier: The World Gold Council and Investing in Gold

2017 ◽  
pp. 1-14
Author(s):  
Pedro Matos ◽  
Richard B. Evans
Keyword(s):  
New York ◽  
Portfolio Management ◽  
Asset Management ◽  
Precious Metals ◽  
Portfolio Allocation ◽  
Safe Haven ◽  
Risk Return ◽  
The World ◽  
Asset Class ◽  
Run Up

This case is taught in Darden's Investments elective but could be used in introductory Finance classes to explore the concept of diversification of investments or in a portfolio management course as a means to explore optimal portfolio allocation. It is accompanied by several teaching tools including a teaching note for instructors, student and instructor spreadsheets, student and instructor videos, and a PowerPoint deck for class debrief. The case would work well in a module sequenced between CornerStone Partners (UVA-F-1677) used before and Pravda Asset Management (UVA-F-1602) used after.The global head of investment research at the World Gold Council (WGC) has finished his presentation “The Strategic Case for Gold as an Asset Class” at the 2012 Bloomberg Precious Metals Conference in New York. As a result of the market collapse in 2008 and the ongoing euro-area crisis, investors worldwide have safety and security on their minds, and many in the room were wondering whether gold would provide capital preservation and improve the overall risk-return tradeoff of their portfolios. At the same time, the sustained run-up in the price of gold since 2001 that was mentioned in the presentation was a cause for concern. Was gold the safe haven that it had proved to be in 2008 and 2009, or was it an asset class at the peak of a bubble? The investment case for gold deserved closer examination.

Gold Price Movements: Common Wisdom and Myths

2014 ◽  
Vol 1 (1) ◽  
pp. 54-68 ◽  
Author(s):  
Vinod Kumar ◽  
Prabhat Mittal
Keyword(s):  
Precious Metal ◽  
Gold Price ◽  
Economic Power ◽  
Safe Haven ◽  
Price Movement ◽  
Monetary Regimes ◽  
The World ◽  
Asset Class ◽  
Unique Status

Gold has a unique status in the economic world: a precious metal with wide uses and the measure of economic power of nations and the cornerstone of international monetary regimes. It has provided an important store of wealth to diverse investors, from individual to institutions, for centuries. It is an asset class and the foundation of a modern portfolio. In recent years, the world witnessed an aggressive growth in gold price. The role of gold in investment has drawn more attention since this transformational economic crisis began to unfold in 2008. This paper is an attempt to understand the price movement of gold. Can we find support for some popular opinions about gold on finance media? For instance: is gold a safe haven, a negative-beta asset, or an inflation hedge? How should we think about gold: a commodity or a currency? This paper provides some thoughts on these questions.

scholarly journals APAKAH LOGAM MULIA MERUPAKAN SAFE HAVEN ATAU HEDGE PADA BEBERAPA PASAR MODAL DI DUNIA?

2019 ◽  
Vol 14 (2) ◽  
pp. 269-282
Author(s):  
Robiyanto Robiyanto ◽  
Mikha Mandela Kapahang
Keyword(s):  
New York ◽  
Capital Markets ◽  
Capital Market ◽  
Precious Metals ◽  
Safe Haven ◽  
Monthly Data ◽  
Arch Effect ◽  
Gold Silver ◽  
Stationarity Test ◽  
Effect Test

This study attempts to analyze the ability of precious metals (gold, silver, platinum, and palladium) to act as a safe haven and hedging instruments on some of the capital market in the world. This study uses monthly data from January 2007 to December 2016. Stationarity Test, ARCH Effect Test and GARCH (1,1) Analysis are used to analyse the data. The results of this study indicate that gold is only capable of being a safe haven instruments in the capital markets of Tokyo, as well as gold are not able to be a hedging instrument for all capital markets studied. Silver is only capable of being a safe haven instruments separately Tokyo capital markets, as well as silver are not able to be a hedging instrument for all capital markets studied. Platinum is not capable of being a safe haven instruments for all capital markets studied, but platinum is able to be a hedging instrument for the Korean stock market and Tokyo. Palladium is not capable of being a safe haven instruments for all capital markets studied, but palladium is able to be a hedging instrument separately Australian capital markets, New York, Hong Kong, Korea, and Tokyo.

[review of:] Dace Prauliņš. 2012. Latvian. An Essential Grammar

2013 ◽  
Vol 4 ◽  
pp. 240-243
Author(s):  
Nicole Nau
Keyword(s):  
New York ◽  
The World ◽  
Scholarly Contribution

Dace Prauliņš, Latvian. An Essential Grammar. London & New York: Routledge, 2012. ɪsʙɴ 978-0-415-57692-5. Descriptive grammars of Modern Latvian written in English are still something of a rarity, and any such book will be warmly welcomed bylinguists as well as by the growing number of people learning Latvian all over the world. It is for the latter group that Dace Prauliņš wrote this book, and it would be unfair to review it as a scholarly contribution to the analysis of Latvian grammar.

Book Reviews

2013 ◽  
Vol 1 (1) ◽  
pp. 91-106
Author(s):  
Janet Klein ◽  
David Romano ◽  
Michael M. Gunter ◽  
Joost Jongerden ◽  
Atakan İnce ◽  
...  
Keyword(s):  
New York ◽  
Middle Eastern ◽  
Nation Building ◽  
Eastern Anatolia ◽  
Oxford University ◽  
National Movement ◽  
The World ◽  
Modern Turkey ◽  
Oxford University Press

Uğur Ümit Üngör, The Making of Modern Turkey: Nation and State in Eastern Anatolia, 1913-1950, Oxford: Oxford University Press, 2011, 352 pp. (ISBN: 9780199603602).Mohammed M. A. Ahmed, Iraqi Kurds and Nation-Building. New York: Palgrave Macmillan, 2012, 294 pp., (ISBN: 978-1-137-03407-6), (paper). Ofra Bengio, The Kurds of Iraq: Building a State within a State. Boulder, CO and London, UK: Lynne Rienner Publishers, 2012, xiv + 346 pp., (ISBN 978-1-58826-836-5), (hardcover). Cengiz Gunes, The Kurdish National Movement in Turkey, from Protest to Resistance, London: Routledge, 2012, 256 pp., (ISBN: 978-0-415—68047-9). Aygen, Gülşat, Kurmanjî Kurdish. Languages of the World/Materials 468, München: Lincom Europa, 2007, 92 pp., (ISBN: 9783895860706), (paper).Barzoo Eliassi, Contesting Kurdish Identities in Sweden: Quest for Belonging among Middle Eastern Youth, Oxford: New York: Palgrave Macmillan, 2013, 234 pp. (ISBN: 9781137282071).

Universal Values and Muslim Democracy

2020 ◽  
Vol 9 (1) ◽  
pp. 1-7
Author(s):  
Anwar Ibrahim
Keyword(s):  
New York ◽  
Muslim World ◽  
World Today ◽  
The People ◽  
The World ◽  
Universal Values ◽  
Human Desire ◽  
Dignified Life

This study deals with Universal Values and Muslim Democracy. This essay draws upon speeches that he gave at the New York Democ- racy Forum in December 2005 and the Assembly of the World Movement for Democracy in Istanbul in April 2006. The emergence of Muslim democracies is something significant and worthy of our attention. Yet with the clear exceptions of Indonesia and Turkey, the Muslim world today is a place where autocracies and dictatorships of various shades and degrees continue their parasitic hold on the people, gnawing away at their newfound freedoms. It concludes that the human desire to be free and to lead a dignified life is universal. So is the abhorrence of despotism and oppression. These are passions that motivate not only Muslims but people from all civilizations.

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