DOIONLINE

DOIONLINE NO - IJMAS-IRAJ-DOIONLINE-10226

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International Journal of Management and Applied Science (IJMAS)-IJMAS
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Volume Issue
Issue
Volume-3,Issue-11  ( Nov, 2017 )
Paper Title
The Relationship between Gold Prices and Equity Market Performance: Evidence from the Zimbabwe Stock Exchange
Author Name
Patience Hlupo
Affilition
Department of Banking and Finance Women’s University in Africa, Harare, Zimbabwe
Pages
28-33
Abstract
We sought to investigate the association between gold prices and equities on the Zimbabwe Stock Exchange (ZSE). Correlation analysis, regression analysis, and granger causality tests were conducted to determine the nature and direction of the relationship. We found a weak short-run unidirectional relationship between gold prices and stocks of gold mining firms on the ZSE. However, we observed no association between gold prices and shares of nongold mining firms on the bourse. We concluded that gold can be best used for diversification purposes when held as a commodity than when investors buy shares of gold mining companies. Keywords - Gold Prices, Stock Prices, Relationship, Diversification.
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