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.
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.
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|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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