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Keywords:Gold 

Journal Article
Safe-Haven Performance in the Age of Bitcoin

In past periods of financial stress, investors seeking “safe havens” have shifted toward government bonds and gold. In recent years, some have questioned whether Bitcoin could also serve as a safe haven. We compare the behavior of government bonds, gold, and Bitcoin from January 1995 through February 2020 and find that the 10-year Treasury note behaved like a safe haven consistently, gold occasionally, and Bitcoin never. During March 2020, however, none of the assets can be classified with confidence as a safe haven.
Economic Bulletin , Issue April 15, 2020 , Pages 4

Working Paper
Implied volatility from options on gold futures: do statistical forecasts add value or simply paint the lilly?

Consistent with findings in other markets, implied volatility is a biased predictor of the realized volatility of gold futures. No existing explanation?including a price of volatility risk?can completely explain the bias, but much of this apparent bias can be explained by persistence and estimation error in implied volatility. Statistical criteria reject the hypothesis that implied volatility is informationally efficient with respect to econometric forecasts. But delta hedging exercises indicate that such econometric forecasts have no incremental economic value. Thus, statistical measures of ...
Working Papers , Paper 2003-018

Journal Article
Gold and dollar transfers in 1960

Federal Reserve Bulletin , Issue Mar

Journal Article
Gold and dollar flows in 1958

Federal Reserve Bulletin , Issue Mar

Working Paper
Can government gold be put to better use?: Qualitative and quantitative policies

Gold has both private uses (depletion uses and service uses) and government uses. It can be obtained from mines with high extraction costs (about $300 per ounce) or from above ground stocks with no extraction costs. Governments still store massive stocks of gold. Making government gold available for private uses through some combination of sales and loans raises welfare from private uses by removing two types of inefficiencies. For given private uses, there is a production inefficiency if costless government gold is withheld while costly gold is taken from mines. There are use inefficiencies ...
International Finance Discussion Papers , Paper 582

Journal Article
Recent gold movements: French financial developments

Federal Reserve Bulletin , Issue Aug

Journal Article
International gold and dollar flows

Federal Reserve Bulletin , Issue Mar

Working Paper
A model of bimetallism

Bimetallism has been the subject of considerable debate: Was it a viable monetary system? Was it a desirable system? In our model, the (exogenous and stochastic) amount of each metal can be split between monetary uses to satisfy a cash-in-advance constraint, and nonmonetary uses in which the stock of uncoined metal yields utility. The ratio of the monies in the cash-in-advance constraint is endogenous. Bimetallism is feasible: we find a continuum of steady states (in the certainty case) indexed by the constant exchange rate of the monies; we also prove existence for a range of fixed exchange ...
Working Papers , Paper 588

Journal Article
Gold, capital flow, and foreign trade during war

Federal Reserve Bulletin , Issue Jan

Journal Article
Federal Reserve : An anchor of gold : how the gold standard works in theory and practice

Related links : https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q2/federal_reserve_weblinks.cfm
Econ Focus , Volume 14 , Issue 2Q , Pages 5-7

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