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Durham Research Online
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Mind the gap : psychological barriers in gold and silver prices.

Lucey, M. E. and O'Connor, F. A. (2016) 'Mind the gap : psychological barriers in gold and silver prices.', Finance research letters., 17 . pp. 135-140.

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.

Item Type:Article
Full text:(AM) Accepted Manuscript
Available under License - Creative Commons Attribution Non-commercial No Derivatives.
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Status:Peer-reviewed
Publisher Web site:http://dx.doi.org/10.1016/j.frl.2016.03.009
Publisher statement:© 2016 This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Record Created:23 Mar 2016 14:20
Last Modified:26 Mar 2017 00:45

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