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Roberts and Schlenker (2013) estimate the price elasticity of demand for agricultural commodities to be about -0.08 to -0.05. These are elasticities estimated over much smaller changes in $p$ and $q$ than you are suggesting. Remember that the elasticity is effectively percent change in $q$ for a percent change in $p$, so we can ask what the percent change in ...


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As Brian Romanchuk commented, there are a number of factors that can affect the daily price of an asset. Gold is one of the most traded futures contracts on the CME so the performance of one bank (assuming you mean Deutsche Bank) might not be enough to offset those other factors. But there is a strong correlation between gold and fiat currencies. This ...


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