London or New York: where and when does the gold price originate?

London or New York: where and when does the gold price originate?

We investigate the Information Shares (ISs) of the two main centres of gold trading, over a 25-year period, using nonoverlapping 4-month windows. We find that neither London nor New York is dominant in terms of price IS, that the dominant market switches from time to time and that these switches do...

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Veröffentlicht in:Applied economics letters 2013-05, Vol.20 (8), p.813-817
Hauptverfasser: Lucey, Brian M., Larkin, Charles, O'Connor, Fergal A.
Format: Artikel
Sprache:eng
Schlagworte:
COMEX
England
Gold
Gold market
Gold price
Gold trade
information share
LBMA
Macroeconomics
New York
U.S.A
United Kingdom
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Zusammenfassung:We investigate the Information Shares (ISs) of the two main centres of gold trading, over a 25-year period, using nonoverlapping 4-month windows. We find that neither London nor New York is dominant in terms of price IS, that the dominant market switches from time to time and that these switches do not appear to be very clearly linkable to macroeconomic or political events.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504851.2012.748175