Precious metals and inflation

Nick Taylor

Applied Financial Economics, 1998, vol. 8, issue 2, 201-210

Abstract: This paper provides evidence in favour of the hypothesis that precious metals (gold, silver, platinum) act as short-run and long-run hedges against inflation. Using robust estimation techniques, this ability to hedge inflation is concentrated in the period before 1939 and around the second OPEC oil shock in 1979. During no other period could precious metals be used to hedge inflation.

Date: 1998
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DOI: 10.1080/096031098333186

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