Precious Metals-Exchange Rate Volatility Transmissions and Hedging Strategies

This study examines the conditional volatility and correlation dependency and interdependency for the four major precious metals (that is, gold, silver, platinum and palladium), while accounting for geopolitics within a multivariate system. The implications of the estimated results for portfolio designs and hedging strategies are also analyzed. The results for the four metals system show significant short-run and long-run dependencies and interdependencies to news and past volatility. These results have become more pervasive when the exchange rate and FFR are included. Monetary policy also has a differential impact on the precious metals and the exchange rate volatilities. Finally, the applications of the results show the optimal weights in a two-asset portfolio and the hedging ratios for long positions.exchange rates;hedging;volatility;shocks;precious metals;correlation;dependency;interdependency;multivariate

Magnetocrystalline anisotropic effect in GdCo1−x_{1-x}Fex_xAsO (x=0,0.05x = 0, 0.05)

From a systematic study of the electrical resistivity $\rho(T,H)$, magnetic susceptibility $\chi(T,H)$, isothermal magnetization $M(H)$ and the specific heat $C(T,H)$, a temperature-magnetic field ($T$-$H$) phase diagram has been established for GdCo$_{1-x}$Fe$_x$AsO ($x = 0$ and $0.05$) polycrystalline compounds. GdCoAsO undergoes two long-range magnetic transitions: ferromagnetic (FM) transition of Co $3d$ electrons ($T_\textup{C}^\textup{Co}$) and antiferromagnetic (AFM) transition of Gd $4f$ electrons ($T_\textup{N}^\textup{Gd}$). For the Fe-doped sample ($x=0.05$), an extra magnetic reorientation transition takes place below $T_\textup{N}^\textup{Gd}$, which is likely associated with Co moments. The two magnetic species of Gd and Co are coupled antiferromagnetically to give rise to ferrimagnetic (FIM) behavior in the magnetic susceptibility. Upon decreasing the temperature ($T < T_\textup{C}^\textup{Co}$), the magnetocrystalline anisotropy breaks up the FM order of Co by aligning the moments with the local easy axes of the various grains, leading to a spin reorientation transition at $T_\textup{R}^\textup{Co}$. By applying a magnetic field, $T_\textup{R}^\textup{Co}$ monotonically decreases to lower temperatures, while the $T_\textup{N}^\textup{Gd}$ is relatively robust against the external field. On the other hand, the applied magnetic field pulls the magnetization of grains from the local easy direction to the field direction via a first-order reorientation transition, with the transition field ($H_\textup{M}$) increasing upon cooling the temperature.Comment: accepted by physical Review B 6 figures and 7 page

Fabrication of Densely Packed AlN Nanowires by a Chemical Conversion of Al2O3Nanowires Based on Porous Anodic Alumina Film

Porous alumina film on aluminum with gel-like pore wall was prepared by a two-step anodization of aluminum, and the corresponding gel-like porous film was etched in diluted NaOH solution to produce alumina nanowires in the form of densely packed alignment. The resultant alumina nanowires were reacted with NH3and evaporated aluminum at an elevated temperature to be converted into densely packed aluminum nitride (AlN) nanowires. The AlN nanowires have a diameter of 15–20 nm larger than that of the alumina nanowires due to the supplement of the additional evaporated aluminum. The results suggest that it might be possible to prepare other aluminum compound nanowires through similar process

Neutrino opacity in magnetised hot and dense nuclear matter

We study the neutrino interaction rates in hot matter at high densities in the presence of uniform magnetic field. The neutrino cross-sections involving both the charged current absorption and neutral current scattering reactions on baryons and leptons have been considered. We have in particular considered the interesting case when the magnetic field is strong enough to completely polarise the protons and electrons in supernovae and neutron stars. The opacity in such a situation is considerably modified and the cross-section develops anisotropy. This has implications for phenomenon invoked in the literature to explain the observed pulsar kicks.Comment: 22 latex pages and 7 postscript figure

Fast Purcell-enhanced single photon source in 1,550-nm telecom band from a resonant quantum dot-cavity coupling

High-bit-rate nanocavity-based single photon sources in the 1,550-nm telecom band are challenges facing the development of fibre-based long-haul quantum communication networks. Here we report a very fast single photon source in the 1,550-nm telecom band, which is achieved by a large Purcell enhancement that results from the coupling of a single InAs quantum dot and an InP photonic crystal nanocavity. At a resonance, the spontaneous emission rate was enhanced by a factor of 5 resulting a record fast emission lifetime of 0.2 ns at 1,550 nm. We also demonstrate that this emission exhibits an enhanced anti-bunching dip. This is the first realization of nanocavity-enhanced single photon emitters in the 1,550-nm telecom band. This coupled quantum dot cavity system in the telecom band thus provides a bright high-bit-rate non-classical single photon source that offers appealing novel opportunities for the development of a long-haul quantum telecommunication system via optical fibres.Comment: 16 pages, 4 figure

Hidden Magnetism and Quantum Criticality in the Heavy Fermion Superconductor CeRhIn5

With understood exceptions, conventional superconductivity does not coexist with long-range magnetic order[1]. In contrast, unconventional superconductivity develops near a boundary separating magnetically ordered and magnetically disordered phases[2,3]. A maximum in the superconducting transition temperature Tc develops where this boundary extrapolates to T=0 K, suggesting that fluctuations associated with this magnetic quantum-critical point are essential for unconventional superconductivity[4,5]. Invariably though, unconventional superconductivity hides the magnetic boundary when T < Tc, preventing proof of a magnetic quantum-critical point[5]. Here we report specific heat measurements of the pressure-tuned unconventional superconductor CeRhIn5 in which we find a line of quantum-phase transitions induced inside the superconducting state by an applied magnetic field. This quantum-critical line separates a phase of coexisting antiferromagnetism and superconductivity from a purely unconventional superconducting phase and terminates at a quantum tetracritical point where the magnetic field completely suppresses superconductivity. The T->0 K magnetic field-pressure phase diagram of CeRhIn5 is well described with a theoretical model[6,7] developed to explain field-induced magnetism in the high-Tc cuprates but in which a clear delineation of quantum-phase boundaries has not been possible. These experiments establish a common relationship among hidden magnetism, quantum criticality and unconventional superconductivity in cuprate and heavy-electron systems, such as CeRhIn5.Comment: journal reference adde