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

Table 5

Descriptive statistics of selected commodities for futures return.

Group	Commodity	Mean	Std. Dev	Skewness	Kurtosis	Min	Max	J-B stat
Bullion	Gold	0.0007	0.0104	−0.4798	3.3165	−0.0800	0.0547	2550.9430
	Silver	0.0010	0.0153	−0.8739	8.4257	−0.1591	0.0880	9547.0380
Base metals	Aluminum	0.0002	0.0146	−0.7620	6.9756	−0.1561	0.0587	6458.7260
	Copper	0.0005	0.0145	0.5425	2.0853	−0.0633	0.1060	1652.9410
	Lead	0.0003	0.0227	0.8976	6.7044	−0.1144	0.2218	4343.0010
	Nickel	0.0000	0.0226	0.2799	0.1735	−0.1013	0.1315	516.9168
	Zinc	−0.0001	0.0195	−0.0179	−1.0128	−0.0861	0.0832	235.8748
Energy	Crude oil	0.0004	0.0167	0.0552	0.4974	−0.0872	0.1078	776.1763
	Natural gas	−0.0002	0.0234	1.0416	4.5081	−0.0892	0.1917	3249.1260