[Capie, F., T.C., Mills, and G., Wood, 2005, "Gold as a Hedge Against the Dollar", Journal of International Financial Markets, Institutions and Money 15.10.1016/j.intfin.2004.07.002]Search in Google Scholar
[Central Bank of the Republic of Turkey http://www.tcmb.gov.tr]Search in Google Scholar
[Chua, J., G., Stick, and R., Woodward, 1990, "Diversifying with Gold Stocks" Financial Analysts Journal 46.10.2469/faj.v46.n4.76]Search in Google Scholar
[Ciner, C., 2001, "On the Long-run Relationship Between Gold and Silver: A note", Global Finance Journal 12.10.1016/S1044-0283(01)00034-5]Search in Google Scholar
[Dickey, D.A., and W.A., Fuller, 1979, "Distribution of the Estimators for Autoregressive Series with a Unit Root", Journal of American Statistical Association 74.10.2307/2286348]Search in Google Scholar
[Engle, R.F., and C.W., Granger, 1987, "Co-integration and Error Correction: Representation, Estimation, and Testing", Econometrica 55.10.2307/1913236]Search in Google Scholar
[Garner, C., 1995, "How Useful are Leading Indicators of Inflation", Economic Review, Federal Reserve Bank of Kansas City 80:2.]Search in Google Scholar
[Ghosh, D.L., E.J., Macmillan, and R.E., Wright, 2002, "Gold as an Inflation Hedge?", University of St. Andrews Discussion Paper Series, Department of Economics, No.21.]Search in Google Scholar
[Granger, C.W., 1969, "Investigating Causal Relations by Econometric Models and Cross-spectial Methods", Econometrica 37:3.10.2307/1912791]Search in Google Scholar
[Harmston, S., 1998, "Gold as a Store of Value", World Gold Council, Research Study No.22 http://www.gold.org/value/reserve_asset/index.html]Search in Google Scholar
[Jaffe, J., 1989, "Gold and Gold Stocks as Investments for Institutional Portfolios", Financial Analysts Journal 45.10.2469/faj.v45.n2.53]Search in Google Scholar
[Johansen, S., 1988, "Statistical Analysis of Cointegration Vectors", Journal of Economic Dynamics and Control 12:2.10.1016/0165-1889(88)90041-3]Search in Google Scholar
[Kitchen, J., 1996, "Domestic and International Financial Market Responses to Federal Deficit Announcements", Journal of International Money and Finance 15.10.1016/0261-5606(96)00003-4]Search in Google Scholar
[Laurent, R.D., 1994, "Is There a Role for Gold in Monetary Policy?", Economic Perspectives, The Federal Reserve Bank of Chicago 18:2.]Search in Google Scholar
[Levin, E.R., and R.E., Wright, 2006, "Short-run and Long-run Determinants of the Price of Gold", World Gold Council, Research Study No.32 http://www.gold.org/value/reserve_asset/index.html]Search in Google Scholar
[Lucey, B., and E., Tully, 2006, "Seasonality, Risk and Return in Daily Comex Gold and Silver 1980 - 2002", Applied Financial Economics 16.10.1080/09603100500386586]Search in Google Scholar
[Mahdavi, S., and S., Zhou, 1997, "Gold and Commodity Prices as Leading Indicators of Inflation: Tests of Long-Run Relationship and Predictive Performance", Journal of Economics and Business 49.10.1016/S0148-6195(97)00034-9]Search in Google Scholar
[Michaud, R., R., Michaud, and K., Pulvermacher, 2006, "Gold as a Strategic Asset", World Gold Council http://www.gold.org/value/stats/research/index.html]Search in Google Scholar
[Phillips, P.C.B., and P., Peron, 1988, "Testing for a Unit Root in Time Series Regression", Biometrika 75.10.1093/biomet/75.2.335]Search in Google Scholar
[Ranson, D., and H.C., Wainright, 2005, "Why Gold, not Oil, is the Superior Predictor of Inflation", Gold Report, World Gold Council, November.]Search in Google Scholar
[Sherman, E., 1986, Gold Investment:Theory and Application, New York, Prentice Hall.]Search in Google Scholar
[Tandon, K., and T., Urich, 1987, "International Market Response to Announcements of US Macroeconomic Data", Journal of International Money and Finance 6.10.1016/0261-5606(87)90014-3]Search in Google Scholar
[The World Gold Council, 2005, "The Value of Gold to Society" http://www.gold.org/pub_archive/index.php?thisDomainID=value&thisSubDomainID=stats]Search in Google Scholar
[Turkish Statistical Institute http://www.turkstat.gov.tr]Search in Google Scholar