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The gold market at the Paris stock exchange : a risk-return analysis 1950-2003

Der Goldmarkt an der Pariser Börse: eine Rendite-Risiko-Analyse 1950-2003
[journal article]

Hoang, Thi Hong van

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Abstract "This paper aims to study the return of investment in gold assets quoted at the Paris stock exchange during 54 years, from 1950 to 2003. Contrarily to what is thought about this mythical metal, its risk-return is very inferior to other financial assets (stocks and bonds). While it has a high degree of risk, its return is less than that of the risk-free asset. Moreover for individual investors, investment in gold has given a very low result in real terms. A capital of 100 new francs invested in the gold coin napoleon in December 1949 would have been liquidated for 56 new francs in December 2003. So its real rate of return was -1% per year." (author's abstract)
Keywords historical development; financial market; stock exchange; capital assets; assets; investment; France; return; money market; purchasing power; gold
Classification National Economy; General History
Method empirical; quantitative empirical; historical
Document language English
Publication Year 2010
Page/Pages p. 389-411
Journal Historical Social Research, 35 (2010) 3
ISSN 0172-6404
Status Published Version; peer reviewed
Licence Creative Commons - Attribution-Noncommercial-No Derivative Works