The impact of COVID-19 news, panic and media coverage on the oil and gold prices: An ARDL approach

被引：88

作者：

Atri, Hanen ^{[1
,4
]}

Kouki, Saoussen ^{[2
]}

Gallali, Mohamed imen ^{[3
]}

机构：

[1] Dhurma Shaqra Univ, Coll Sci & Humanities, Dept Business Adm, POB 33, Shaqra 11961, Saudi Arabia

[2] Imam Abdulrahman Bin Faisal Univ, Dept Basic Sci, Deanship Preparatory Year & Supporting Studies, POB 1982, Dammam 34212, Saudi Arabia

[3] Univ Manouba, RIM RAF UR13ES56, ESCT, Campus Univ Manouba, Manouba 2010, Tunisia

[4] Manouba Univ, RIM RAF Lab ESCT UR13ES56, Manouba, Tunisia

来源：

RESOURCES POLICY | 2021年 / 72卷

关键词：

COVID-19; pandemic; Oil price; Gold price; Panic index; Media coverage; Economic uncertainty; ECONOMIC-POLICY UNCERTAINTY; INVESTOR SENTIMENT; RISK; US; MARKETS; ENERGY; SHOCKS;

D O I：

10.1016/j.resourpol.2021.102061

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

This study investigates whether COVID-19 news, panic and media coverage affect oil and gold prices. Using the ARDL approach over the period January 23, 2020 to June 23, 2020, we find that COVID-19 deaths and panic have negative effects on crude oil price. However, the propaganda created by the media in the long term has a negative impact on oil price. The empirical results show that the COVID-19 new infections, deaths and media coverage have positive effects on the gold price. Our findings prove that oil price is sensitive to bad news unlike gold price. According to our study, gold, which is a hedge against economic and geopolitical crises, is additionally a safe haven during COVID-19 health crisis. Overall, our results also demonstrate that the economic and financial uncertainty affect oil and gold prices negatively during the COVID-19 pandemic. We conclude that the impact of the COVID-19 new infections on oil and gold prices is depending on whether the disease is an epidemic or a pandemic.

引用

页数：11

共 67 条

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