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Examining Price Discovery In The Gold Market: Evidence From India, Santosh Kumar Pk, Sanjeev M A
Examining Price Discovery In The Gold Market: Evidence From India, Santosh Kumar Pk, Sanjeev M A
Management Dynamics
Background: Commodity markets are rapidly changing across the globe due to technological and financial innovations. The introduction of commodity exchanges and futures trading has significantly affected their price discovery with ramifications for the commodity users and traders. The price discovery mechanism in commodity markets is dynamic and needs regular reassessment.
Objective: This paper aims to determine the price discovery mechanism (the relation between spot and future prices) of gold in the Indian commodity markets for the ten years between 2011-2020 and the direction of the price influence.
Materials & Methods: The current study uses daily gold price data between January …