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The seasonality of India's Gold price Premium and Discount: Evidence from World Gold Council and MCX India
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DOI:10.1016/j.ribaf.2026.103475.png)
Abstract
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• The study aims to uncover some important aspects of India's gold price premium and discount. • We find day-of-the-week effects, month-of-the-year effects, quarter-of-the-year effects, and festive anomalies. • Our empirical results indicate that India's gold market has seasonal anomalies. • Empirical results show that Monday opens with the gold price premium. • Friday appears to be positive across sub-samples but marginally closes with a discount. • December ends with the premium, and the year opens with discount prices. • 74% of daily observations indicate that India’s gold market traded at a discount.
Keywords:
Gold price premium
Gold price discount
Seasonal anomalies
Day-of-the-week effects
Month-of-the-year effects
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2.7K
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