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Book Cover
E-book
Author Roache, Shaun K., author.

Title The effects of economic news on commodity prices : is gold just another commodity? / prepared by Shaun K. Roache and Marco Rossi
Published [Washington, D.C.] : International Monetary Fund, ©2009

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Description 1 online resource (28 pages) : illustrations
Series IMF working paper, 2227-8885 ; WP/09/140
IMF working paper ; WP/09/140.
Contents Table of contents; I. Introduction; II. Methodology; A. Literature Review; B. Data; C. Estimation Strategy; III. Results; A. Scheduled Macroeconomic Announcements; B. "Good News", "Bad News", and Volatility; IV. Conclusion; References; Appendix
Summary The paper uses an event study methodology to investigate which and how macroeconomic announcements affect commodity prices. Results show that gold is unique among commodities, with prices reacting to specific scheduled announcements in the United States and the Euro area (such as indicators of activity or interest rate decisions) in a manner consistent with gold's traditional role as a safe-haven and store of value. Other commodity prices, where such news is significant, exhibit pro-cyclical sensitivities and these have risen somewhat as commodities have become increasingly financialized. These results are important for those trading in the commodity markets on a frequent basis and long-term market participants that take their decisions based on information on price fundamentals, which are reflected in the release of macroeconomic announcements
Notes At head of title: Research Department
"July 2009."
Bibliography Includes bibliographical references (pages 18-19)
Notes Print version record
Subject Primary commodities -- Prices
Gold -- Prices
Gold.
Gold
teocuitlatl.
gold (metal)
Gold -- Prices
Primary commodities -- Prices
Form Electronic book
Author Rossi, Marco, 1965- author.
International Monetary Fund. Research Department.
ISBN 1451917163
9781451917161