Insights into Gold Investing: Exploring Investor Behavior

IF 2.2 4区地球科学 Q2 GEOSCIENCES, MULTIDISCIPLINARY

Acta Montanistica Slovaca Pub Date : 2024-04-14 DOI:10.46544/ams.v28i4.02

引用次数: 0

Abstract

A content analysis was conducted to examine factors influencing 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.

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洞察黄金投资：探索投资者行为

我们进行了内容分析，以研究影响投资者投资黄金行为的因素，并探究出售黄金的可能原因。结果表明，投资者的需求、回报预期、羊群行为、对金融崩溃的恐惧、较高的升值率、价值储存和流动性都对黄金投资决策有重大影响。分析还发现了在危机时期可能导致出售黄金的因素，如科维德-19 大流行病造成的不确定性、将黄金视为全球金融动荡时期的避风港、危机时期黄金价格上涨、黄金作为对冲工具、重要投资来源、抵御通胀以及作为交易媒介的价值。在这些时期抛售黄金的一个重要动机是逃往更安全的资产。研究还显示，虽然在经济不确定和通货膨胀时期黄金需求通常较高，但现金短缺并不会对出售黄金的决定产生重大影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Acta Montanistica Slovaca 地学-地球科学综合

CiteScore

3.60

自引率

12.50%

发文量

审稿时长

30 weeks

期刊介绍： Acta Montanistica Slovaca publishes high quality articles on basic and applied research in the following fields: geology and geological survey; mining; Earth resources; underground engineering and geotechnics; mining mechanization, mining transport, deep hole drilling; ecotechnology and mineralurgy; process control, automation and applied informatics in raw materials extraction, utilization and processing; other similar fields. Acta Montanistica Slovaca is the only scientific journal of this kind in Central, Eastern and South Eastern Europe. The submitted manuscripts should contribute significantly to the international literature, even if the focus can be regional. Manuscripts should cite the extant and relevant international literature, should clearly state what the wider contribution is (e.g. a novel discovery, application of a new technique or methodology, application of an existing methodology to a new problem), and should discuss the importance of the work in the international context.