论文标题
黄金价格的一年之际影响：分解分析
Turn-of-the Year Affect in Gold Prices: Decomposition Analysis
论文作者
论文摘要
在本文中，我们研究了黄金市场的回报是在日历年的某些月中表现出异常的正面还是负回报。统计分析和分解技术表明，黄金价格显示了一年中的某些季节性行为。我们观察到在一年中的黄金市场中的周期性行为。一月份可能会提供最高的回报，而预计7月将获得显着的负回报。
In this article, we examine whether the gold market returns show abnormally positive or negative returns in some months of the calendar year. The statistical analysis and the decomposition techniques suggest that gold prices show some seasonal behavior during the turn of the year. We observe a strong cyclical behavior in gold markets during the turn-of-the-year period. January is likely to offer the highest return whereas significant negative returns are expected in July.
