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Mind The Gap: Psychological Barriers in Gold and Silver Prices

Lucey, M.E.; O'Connor, F.A.

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Authors

F.A. O'Connor



Abstract

This study tests whether psychological barriers exist around key reference points in gold and silver prices, namely numbers ending in 0 (e.g. $450) and 00 (e.g. $200). Initial observations and tests show gold prices fix less frequently on values ending in 0 and 00, suggesting barriers at these levels which manifest as gaps in the frequency distributions. Statistical tests find support for barriers at numbers ending in 0 and 00 for gold. While initial observations and tests suggest silver prices are not uniformly distributed, there is no statistically significant evidence to support that barriers exist at either 0 or 00.

Citation

Lucey, M., & O'Connor, F. (2016). Mind The Gap: Psychological Barriers in Gold and Silver Prices. Finance Research Letters, 17, 135-140. https://doi.org/10.1016/j.frl.2016.03.009

Journal Article Type Article
Acceptance Date Mar 5, 2016
Online Publication Date Mar 21, 2016
Publication Date May 1, 2016
Deposit Date Mar 22, 2016
Publicly Available Date Mar 29, 2024
Journal Finance Research Letters
Print ISSN 1544-6123
Publisher Elsevier
Peer Reviewed Peer Reviewed
Volume 17
Pages 135-140
DOI https://doi.org/10.1016/j.frl.2016.03.009
Public URL https://durham-repository.worktribe.com/output/1388558

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