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undergraduate thesis
The performance of gold as a safe haven against S&P 500 during COVID crisis
2023. urn:nbn:hr:148:821492
Paić, Filip
University of Zagreb
Faculty of Economics and Business

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Paić, F. (2023). The performance of gold as a safe haven against S&P 500 during COVID crisis (Undergraduate thesis). Zagreb: University of Zagreb, Faculty of Economics and Business. Retrieved from https://urn.nsk.hr/urn:nbn:hr:148:821492

Paić, Filip. "The performance of gold as a safe haven against S&P 500 during COVID crisis." Undergraduate thesis, University of Zagreb, Faculty of Economics and Business, 2023. https://urn.nsk.hr/urn:nbn:hr:148:821492

Paić, Filip. "The performance of gold as a safe haven against S&P 500 during COVID crisis." Undergraduate thesis, University of Zagreb, Faculty of Economics and Business, 2023. https://urn.nsk.hr/urn:nbn:hr:148:821492

Paić, F. (2023). 'The performance of gold as a safe haven against S&P 500 during COVID crisis', Undergraduate thesis, University of Zagreb, Faculty of Economics and Business, accessed 28 April 2024, https://urn.nsk.hr/urn:nbn:hr:148:821492

Paić F. The performance of gold as a safe haven against S&P 500 during COVID crisis [Undergraduate thesis]. Zagreb: University of Zagreb, Faculty of Economics and Business; 2023 [cited 2024 April 28] Available at: https://urn.nsk.hr/urn:nbn:hr:148:821492

F. Paić, "The performance of gold as a safe haven against S&P 500 during COVID crisis", Undergraduate thesis, University of Zagreb, Faculty of Economics and Business, Zagreb, 2023. Available at: https://urn.nsk.hr/urn:nbn:hr:148:821492

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Metadata
TitleThe performance of gold as a safe haven against S&P 500 during COVID crisis
AuthorFilip Paić
MentorJosip Arnerić (mentor)
GranterUniversity of Zagreb
Faculty of Economics and Business
Zagreb
Defense date and country2023-07-13, Croatia
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Abstract
The global pandemic of COVID-19 had profound negative consequences on overall economy and caused downturns of equity markets worldwide. In such turbulent surroundings, plagued with uncertainty, investors have focused their attention to safe haven assets in preserving their capital. In that context the main objective is to re-evaluate whether gold still possess the role of a safe haven investment in such an unprecedented times like COVID-19 as well as Ukrainian war, which differ from previous crisis we have seen in for example 2008 and 1987. For the same reason rolling regression between the gold and S&P 500 index was employed due to time-varying properties of daily returns, with optimal selection of window size. Results indicate that negative slope coefficients, which coincide with COVID-19 pandemic as well as onset of Ukrainian war, are statistically significant. Those findings offer empirical evidence that gold still holds a strong position in investors’ minds as a safe haven, even though there is no universal safe have, i.e. the safe haven property of a different assets varies over time and it depends on the characteristics of the specific market and type of financial turmoil.
Keywords
Languagecroatian
URN:NBNurn:nbn:hr:148:821492
Study programmeTitle: Business Economics in English
Study programme type: university
Study level: undergraduate
Academic / professional title: sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije (sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije)
Type of resourceText
File originBorn digital
Access conditionsAccess restricted to authenticated users
Terms of useLicence In copyright icon
Created on2023-07-14 16:18:04