Yelyzaveta Apanovych, Zuzana Líšková-Dvořáková, Monika Burghauserová, Vilém Kovač
Insights into Gold Investing
Číslo: v28/i4/2023
Periodikum: Acta Montanistica Slovaca
DOI: 10.46544/AMS.v28i4.02
Klíčová slova: Gold investment, investor's behavior, gold price, gold, safe haven, liquidity, inflation, gold market, selling strategy
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investor behavior when investing in gold and to look into possible
reasons for selling gold. The results showed that investors' needs,
return expectations, herding behavior, fear of financial collapse,
higher appreciation rate, store of value, and liquidity all significantly
impact gold investment decisions. The analysis also identified factors
that may lead to selling gold in times of crisis, such as uncertainty
caused by the Covid-19 pandemic, perception of gold as a safe haven
during global financial instability, rise in the price of gold during
crisis periods, its value as a hedging instrument, an essential
investment source, protection against inflation, and also as a medium
of exchange. An important motive for selling gold during these
periods is to flee to safer assets. The research also revealed that
although the demand for gold is usually higher in times of economic
uncertainty and inflation, cash shortages do not significantly impact
the decision to sell gold.