Research Article

Analysis on the Impact of the Fluctuation of the International Gold Prices on the Chinese Gold Stocks

Table 2

The result of the Granger causality test.

Null hypothesis -statistic value

Comex does not Granger cause JPS33.1689
JPS does not Granger cause Comex0.532490.58739

Note. JPS means the weight average daily return growth rate of 5 stocks.
Comex means the daily return growth rate of the Comex gold future.