The literature on gold is dominated by empirical studies on its diversification, hedging, and safe haven properties. In … contrast, the question “When to invest in gold?” is generally not analyzed in much detail. We test more than 4,000 seasonal …, technical, and fundamental timing strategies for gold and find evidence for some market timing ability and economic gains …

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 …