Futures Market Shocks Impact Gold, Silver, and Copper Prices Volatility
Price discovery and risk management are important functions of the Indian commodity futures market. The study focused on metal futures and found that the futures market determines prices first, which then affect spot prices. Gold market is not efficient in incorporating available information. Volatility spill-over impacts are significant in all commodity spot and futures returns, with bidirectional shocks transmission observed across gold, silver, and copper markets.