Volatility in the Gold Futures Market

We investigate the volatility structure of gold, trading as a futures contract on the Chicago Board of Trade (CBOT) using intraday (high frequency) data from January 1999 to December 2005. Apart from investigating the now familiar GARCH properties we also utilize a rarely used measure of volatility–the Garman Klass estimator – to provide new insights in intraday and interday volatility. This nonparametric measure incorporates the open, close, high and low price within a particular time interval. Both sets of results suggest significant variation across the trading day and week consistent with microstructure theories, although volatility is only slightly positively correlated with volume when measured by tick-count.Garman Klass estimator; volatility; gold; intraday patterns; futures

Synergistic relationships among remote-sensing and geophysical media: Geological and hydrological applications

The synergistic relationships among LANDSAT imagery, Skylab photographs, and aerial photographs were useful for establishing areas of near surface bedrock. Lineaments were located on LANDSAT imagery and aerial photographs during 1978 and near surface water tables were to be located during 1980. Both of these subjects can be identified by remote sensing methods more reliably than individual outcrops, which are small and occur in a wide variety of environments with a wide range of responses. Bedrock outcrops themselves could not be resolved by any of the data sources used, nor did any combination of data sources specifically identify rock at the ground surface. The data sources could not simply be combined mathematically to produce a visual image of probable areas of near surface bedrock. Outcrops and near surface bedrock had to be verified visually at the site. Despite these drawbacks, a procedure for locating areas of near surface bedrock within which actual surface outcrops may occur was developed

Remarks of W. M. Batten

Commencement address given by William M. Batten, President of J. C. Penney Company, to the Winter 1963 graduating class of The Ohio State University, St. John Arena, Columbus, Ohio, March 15, 1963

The Macroeconomic Determinants of Volatility in Precious Metals Markets

We investigate key macroeconomic factors that impact the price returns of precious metals markets. The markets investigated were gold, silver, platinum and palladium; whereas the macroeconomic factors accommodated business cycle, monetary environment and financial market sentiment factors. The key findings present limited evidence that the same macroeconomic factors jointly influence the volatility processes of the precious metal price series, although there is some evidence of volatility feedback between the precious metals. This finding lends weight to views that individual commodities are too distinct to be considered a single asset class or represented by a single index; a finding of considerable importance for portfolio managers and investors.

Closed-Cycle, Frequency-Stable CO2 Laser Technology

These proceedings contain a collection of papers and comments presented at a workshop on technology associated with long-duration closed-cycle operation of frequency-stable, pulsed carbon dioxide lasers. This workshop was held at the NASA Langley Research Center June 10 to 12, 1986. The workshop, jointly sponsored by the National Aeronautics and Space Administration (NASA) and the Royal Signals and Radar Establishment (RSRE), was attended by 63 engineers and scientists from the United States and the United Kingdom. During the 2 1/2 days of the workshop, a number of issues relating to obtaining frequency-stable operation and to the catalytic control of laser gas chemistry were discussed, and specific recommendations concerning future activities were drafted

Two Alternative Macro-Based Approaches to Model Telecommunication Traffic

(no abstract available)Series: Discussion Papers of the Institute for Economic Geography and GIScienc

Studies of CO oxidation on Pt/SnO2 catalyst in a surrogate CO2 laser facility

Samples of 1% Pt/SnO2 catalyst were exposed to a stoichiometric gas mixture of 1% CO and 1.2% O2 in helium over a range of flowrates from 5 to 15 sccm and temperatures from 338 to 394 Kelvin. Reaction rate constants for the catalytic oxidation of carbon monoxide and their temperature dependence were determined and compared with previous literature values

Fast algorithm for the cutting angle method of global optimization

The cutting angle method for global optimization was proposed in 1999 by Andramonov et al. (Appl. Math. Lett. 12 (1999) 95). Computer implementation of the resulting algorithm indicates that running time could be improved with appropriate modifications to the underlying mathematical description. In this article, we describe the initial algorithm and introduce a new one which we prove is significantly faster at each stage. Results of numerical experiments performed on a Pentium III 750 Mhz processor are presented.<br /