Googling gold and mining bad news

Dirk G. Baur and Thomas Dimpfl

Resources Policy, 2016, vol. 50, issue C, 306-311

Abstract: This paper studies investor's attention to gold price movements by analyzing the relationship between gold price changes and internet search queries for gold. We find a positive relationship of gold price volatility and search queries and a strong asymmetric effect of negative gold price changes on search queries indicating a preference to mine (google) bad news rather than good news. The analysis of silver, palladium and platinum demonstrates that the findings for gold are unique.

Keywords: Gold; Volatility; Investor attention; Investor behavior; Search queries (search for similar items in EconPapers)
JEL-codes: G02 G11 Q02 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:50:y:2016:i:c:p:306-311

DOI: 10.1016/j.resourpol.2016.10.013

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