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A Note on the Accuracy of Business Economists' Gold Price Forecasts

Author

Listed:
  • E. A. Selvanathan

    (School of International Business Relations, Griffith University, Queensland 4111.)

Abstract

Until recently the Economic Research Centre (ERC) panel at the University of Western Australia published forecasts of future gold prices in The West Australian newspaper. This note assesses the accuracy of these forecasts. The results show that the actual gold price series follows a simple random walk and that the forecasts obtained from this model perfor M slightly better than those of the ERC panel.

Suggested Citation

  • E. A. Selvanathan, 1991. "A Note on the Accuracy of Business Economists' Gold Price Forecasts," Australian Journal of Management, Australian School of Business, vol. 16(1), pages 91-94, June.
    • Handle: RePEc:sae:ausman:v:16:y:1991:i:1:p:91-94
    DOI: 10.1177/031289629101600106
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    Cited by:

    1. Severin Borenstein & Joseph Farrell, 2007. "Do investors forecast fat firms? Evidence from the gold-mining industry," RAND Journal of Economics, RAND Corporation, vol. 38(3), pages 626-647, September.
    2. Pattnaik, Debidutta & Hassan, M. Kabir & DSouza, Arun & Ashraf, Ali, 2023. "Investment in gold: A bibliometric review and agenda for future research," Research in International Business and Finance, Elsevier, vol. 64(C).

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