Psychological Barriers in Gold Prices

Brian M. Lucey () and Raj Aggarwal ()

The Institute for International Integration Studies Discussion Paper Series from IIIS

Abstract: This paper examines for the first time the existence of psychological barriers in a variety of daily and intra-day gold price series. This paper uses a number of statistical procedures and presents evidence of psychological barriers in gold prices. We document that prices in round numbers act as barriers with important effects on the conditional mean and variance of the gold price series around psychological barriers. Classification-

New Economics Papers: this item is included in nep-cbe and nep-rmg
Date: 2005-04-20

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Related works:
Journal Article: Psychological barriers in gold prices? (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:iis:dispap:iiisdp053

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