We study whether gold acts as a hedge or a safe haven in U.S. and the Indian stock markets. These two stock markets …, the BSE Sensex, and gold prices. We find that, for the period of our study, 1980-2020, gold has not served as a hedge or a … our study period. Gold returns do not exhibit a significant negative relationship with stock returns in any of the chosen …

them to mutualise their gold reserves in emergency situations. Gold reserve sharing was especially important in response to … union. But fortunes could change quickly, with emergency recipients of gold turning into providers. Because regional …