Gold als Kapitalanlage

Dass Gold von vielen Anlegern nicht erst seit der aktuellen Finanzmarkt- und Schuldenkrise in Europa und den USA als sichere Anlage betrachtet wird und zunehmend als ein “must-have” im Portfolio gilt, lässt sich schon an den kontinuierlichen Preissteigerungen des letzten Jahrzehnts erkennen. Seit der Jahrtausendwende ist der durchschnittliche Preis von 280 Dollar auf 1220 Dollar im Jahr 2010 gestiegen.

Nun hat der Preis einer Feinunze erstmals die 1500 Dollar-Marke überschritten. Die aktuelle Drohung der Rating-Agentur S&P, den USA die Bonitäts-Bestnote “AAA” zu entziehen, sowie Gerüchte über eine mögliche Umschuldung Griechenlands werden dabei als die Hauptgründe für das Erreichen des neuen Rekordhochs angesehen.

Die nachfolgende Literaturzusammenstellung aus unserer Datenbank Econis thematisiert die Rolle des Edelmetalls als Kapitalanlage, wie auch dessen Preisentwicklung und eventuelle Investitionsrisiken.

Wesentliches Schlagwort: Gold

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Wesentliches Schlagwort: Kapitalanlage

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Regionale Aspekte: Welt – Gold

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Literaturliste

The complete guide to investing in gold and precious metals : how to earn high rates of return safely / by Alan Northcott.

Hard money : taking gold to a higher investment level / Shayne McGuire.
An in-depth guide to making gold a serious part of your portfolio Gold, the long forgotten store of value that was once the center of the global financial system, suddenly matters a great deal again. It has become a leading asset by virtue of its strong performance, and its booming demand has made it the only financial asset that remains in an uninterrupted bull market. And yet gold remains one of the least-owned financial assets in investment portfolios today. Hard Money helps investors move beyond the simple, yet widely accepted notion that gold makes sense in today’s financial environment, and explores ways to magnify potential investment returns driven by precious metals. This reliable resource examines the investment vehicles (bullion, stocks, derivatives, and even rare coins) and strategies (aggressive, conservative, passive, and variations) aimed at beating the price of gold as it rises, and ways to protect a portfolio should the metal decline. Identifies five key drivers that should continue to push gold higher in the years ahead. Explores the ins and outs of investing in gold and making this precious metal a part of your portfolio. Examines the pros and cons of multiple ways to buy gold via coins, ETFs, mining and royalty stocks, and other investment vehicles. Author Shayne McGuire is a highly-regarded expert on gold. Written in a straightforward and accessible style, Hard Money offers key strategies to enhancing returns with new methods for investing in gold.

The golden rule : safe strategies of sage investors / Jim Gibbons.

The dollar meltdown : surviving the coming currency crisis with gold, oil, and other unconventional investments / Charles Goyette.

  • The dollar meltdown : surviving the coming currency crisis with gold, oil, and other unconventional investments / Charles Goyette.
    (c 2009) New York, NY [u.a.]; VII, 248 p.

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Investieren in Gold / Norman Schwarze.

Investing in gold : the essential safe haven investment for every portfolio / Jonathan Spall.

The effect of gold in a traditional portfolio / Thomas Heidorn; Nadeshda Demidova-Menzel.

  • The effect of gold in a traditional portfolio / Thomas Heidorn; Nadeshda Demidova-Menzel.
    (2008) In: The handbook of commodity investing. – Hoboken, NJ. – 2008, S. 738-762.

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Gold and financial assets : are there any safe havens in bear markets? / Virginie Coudert & Hélène Raymond.

  • Gold and financial assets : are there any safe havens in bear markets? / Virginie Coudert & Hélène Raymond.
    (2010) Document de travail / Centre d’Etudes Prospectives et d’Informations Internationales ; 2010,13; Online-Ressource (39 S.).

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A practical guide to gold as an investment asset / Charlie X. Cai; lain Clacher; Robert Faff; David Hillier.

  • A practical guide to gold as an investment asset / Charlie X. Cai; lain Clacher; Robert Faff; David Hillier.
    (2008) In: The handbook of commodity investing. – Hoboken, NJ. – 2008, S. 712-735.

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Financial investors and commodity markets / by Dietrich Domanski and Alexandra Heath.

  • Financial investors and commodity markets / by Dietrich Domanski and Alexandra Heath.
    (2008) In: Commodities, energy and finance. – 2008, S. 19-37.

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  • Financial investors and commodity markets / Dietrich Domanski; Alexandra Heath.
    (2007) In: BIS quarterly review. – 2007, (Mar.2007) S. 53-67.

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The portfolio implications of gold investment / Mitchell Ratner and Steven Klein.

  • The portfolio implications of gold investment / Mitchell Ratner and Steven Klein.
    (2008) In: The journal of investing. – New York, NY. – Bd. 17.2008, 1, S. 77-87.

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Risk management of precious metals / Shawkat Hammoudeh, Farooq Malik, and Michael McAleer.

  • Risk management of precious metals / Shawkat Hammoudeh, Farooq Malik, and Michael McAleer.
    ([2010]) Working paper / Department of Economics and Finance, College of Business and Economics, University of Canterbury ; 2010,37; Online-Ressource (31 S., 430 Kb).

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  • Risk management of precious metals / Shawkat Hammoudeh; Farooq Malik; Michael McAleer.
    (2010) Econometric Institute report EI ; 2010,48; Online-Ressource (PDF-Datei: 31 S.).

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Gold : Edelmetall und Phänomen / Thomas F. Utter.

Gold : die Währung der Zukunft / Nathan Lewis.

Gold in the investment portfolio / by Nadeshda Demidova-Menzel; Thomas Heidorn.
The paper examines the key drivers of gold investment. Since 2000 the gold price has risen drastically, making gold an interesting add-on to a portfolio. As gold futures have negative roll returns, gold pool accounts are characterized by high credit risk and physical possession of gold means high transaction costs, Xetra-Gold might be the most efficient way to enter the market. Xetra-Gold is a product created by the Deutsche Börse in 2007, which is handled like a security but can be exchanged into physical gold any time. In the portfolio context gold has had a positive impact on Euro and USD portfolios between 2000 and 2006 due to considerable returns and low correlation to other assets. However, this has not been true for almost all other periods, the correlation was always low but the returns of gold were almost zero, overriding the positive diversification effect. — Investing in gold ; gold in the portfolio ; correlation of gold ; returns of gold ; Xetra-Gold

  • Gold in the investment portfolio / by Nadeshda Demidova-Menzel; Thomas Heidorn.
    (2007) Working paper series / Frankfurt School of Finance & Management ; 87; Online-Ressource (50 S.).

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On the lease rate, the convenience yield and speculative effects in the gold futures market / Giovann Barone-Adesi; Hélyette Geman; John Theal.

  • On the lease rate, the convenience yield and speculative effects in the gold futures market / Giovann Barone-Adesi; Hélyette Geman; John Theal.
    (2009) Research paper series / Swiss Finance Institute ; 09,07; Online-Ressource (PDF-Datei: [70] S.).

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Gold and oil futures markets : are markets efficient? / Paresh Kumar Narayan, Seema Narayan and Xinwei Zheng.

  • Gold and oil futures markets : are markets efficient? / Paresh Kumar Narayan, Seema Narayan and Xinwei Zheng.
    (2010) School working papers / Faculty of Business and Law, School of Accounting, Economics and Finance, Deakin University : Economics series; Online-Ressource (22 S.).

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Return distributions and volatility forecasting in metal futures markets : evidence from gold, silver, and copper / Ahmed A. A. Khalifa; Hong Miao; Sanjay Ramchander.

  • Return distributions and volatility forecasting in metal futures markets : evidence from gold, silver, and copper / Ahmed A. A. Khalifa; Hong Miao; Sanjay Ramchander.
    (2011) In: The journal of futures markets. – Hoboken, NJ. – Bd. 31.2011, 1, (Jan.2011) S. 55-80.

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Metal volatility in presence of oil and interest rate shocks / Shawkat Hammoudeh, Yuan Yuan.

  • Metal volatility in presence of oil and interest rate shocks / Shawkat Hammoudeh, Yuan Yuan.
    (2008) In: Energy economics. – Amsterdam. – Bd. 30.2008, 2, (Mar.2008) S. 606-620.

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Gold price risk and the returns on gold mutual funds / Laurence E. Blose.

  • Gold price risk and the returns on gold mutual funds / Laurence E. Blose.
    (1996) In: Journal of economics and business. – Amsterdam [u.a.]. – Bd. 48.1996, 5, S. 499-513.

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The effects of economic news on commodity prices : is gold just another commodity? / Shaun K. Roache and Marco Rossi.

  • The effects of economic news on commodity prices : is gold just another commodity? / Shaun K. Roache and Marco Rossi.
    (2009) IMF working paper ; 09/140; 28 S.

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Gold price determinants : empirical analysis and implications / Said Elfakhani; Imad B. Baalbaki and Hind Rizk.

  • Gold price determinants : empirical analysis and implications / Said Elfakhani; Imad B. Baalbaki and Hind Rizk.
    (2009) In: Journal for international business and entrepreneurship development. – Olney, Bucks. – Bd. 4.2009, 3, S. 161-178.

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Gold : inflation hedge and long-term strategic asset / Natalie Dempster and Juan Carlos Artigas.

  • Gold : inflation hedge and long-term strategic asset / Natalie Dempster and Juan Carlos Artigas.
    (2010) In: The journal of wealth management. – New York, NY. – Bd. 13.2010, 2, S. 69-75.

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Gold prices, cost of carry, and expected inflation / Laurence E. Blose.

  • Gold prices, cost of carry, and expected inflation / Laurence E. Blose.
    (2010) In: Journal of economics and business. – Amsterdam [u.a.]. – Bd. 62.2010, 1, (1/2.2010) S. 35-47.

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