Inwestycja w złoto – bezpieczna przystań, zabezpieczenie czy źródło dywersyfikacji dla polskiego inwestora
Investment in gold - safe haven, hedge or source of diversification for Polish investor

Summary/Abstract: The article describes the concept of the hedge; diversifier and safe haven investments. The main goal of this study is to examine whether there are links between the rates of return achieved on the Warsaw Stock Exchange (WSE) and rates of return on investments in gold. The author tested following hypothesis: the return on investment in gold acts as a hedge investment in the long term in relation to investments in the WSE main index; and at a time when investment in the WSE main index recorded a negative rate of return; investment in gold is a safe haven investment. To verify the hypothesis the author uses correlation coefficients and his own measure. The main conclusion from the research is that investing in gold acts as a safe haven investment for the investor which invests on the WSE.

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