Analyse de marchéAccording to the methodology of Dixit and Pindyck (1994), gold contains an implicit call option on the collapse of the fiat system. The price dynamics St incorporate a Poisson jump…
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Gold (Sharpe 0.4-0.7, Volatility 12-15%) acts as a reserve asset, inversely correlated with the DXY. Its low Sharpe ratio is due to no carry yield and custody costs, but it…
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