Does Indian Commodity Futures Markets Exhibit Price Discovery? An Empirical Analysis

Table 4

Descriptive statistics of selected commodities for spot return.

Group	Commodity	Mean	Std. Dev	Skewness	Kurtosis	Min	Max	J-B stat
Bullion	Gold	0.0183	0.0199	0.2761	−2.3658	−0.0680	0.1319	44.4369
	Silver	0.0338	0.0284	0.2558	−2.5279	−0.0835	0.1612	34.8346
Base metals	Aluminum	0.0290	0.0247	0.3915	0.3661	−0.0822	0.1703	758.5985
	Copper	0.0134	0.0526	−3.2404	41.2291	−0.6665	0.2538	1995.4000
	Lead	0.0198	0.0332	0.1312	−1.7161	−0.1095	0.1692	77.1338
	Nickel	0.0231	0.0392	0.5778	1.1388	−0.1159	0.3037	918.3396
	Zinc	0.0288	0.0307	0.4878	−1.6323	−0.0644	0.1575	168.4567
Energy	Crude oil	0.0337	0.0491	1.9676	5.8151	−0.0952	0.4251	5898.1310
	Natural gas	0.0790	0.1116	2.8257	7.6306	−0.0912	0.8271	7752.7000