Table 3 Panel quantile result of gold... | Emerald Publishing

Table 3

Panel quantile result of gold and UCRY price

Quantiles	DV: Gold				DV: UCRY price
Quantiles	SI	GB	IS	IB	SI	GB	IS	IB
0.05	−0.0001	−0.0854^***	−0.0039^***	−0.4539^***	−0.0594^***	−0.0674^***	0.0542^***	0.4817^***
0.1	−0.1305^***	−0.1238^***	0.0659^***	−0.0843	−0.8872^***	−0.0252^***	0.071^***	0.5561^***
0.25	−0.3187^***	0.0685^***	0.1830^***	0.5262^***	−0.0310^***	0.0503^***	0.0050^***	0.3082^***
0.5	−0.1997^***	0.0063^***	0.1853^***	0.1036^***	0.0024^***	0.0093^***	−0.0017^***	0.0069^**
0.75	−0.2736^***	0.0031^***	0.2417^***	0.1951^***	0.0010^***	0.0003^***	−0.0019^***	−0.1663^***
0.9	−1.1085	−0.0798^**	0.902	−0.9777^**	0.0191	−0.3842	0.0094	−0.3189^**
0.95	−0.8001^***	0.2613^***	0.6311^***	−0.6864^***	0.0552	−0.1098	−0.2058	−0.8272^***

Quantiles	DV: Gold				DV: UCRY price
Quantiles	SI	GB	IS	IB	SI	GB	IS	IB
0.05	−0.0001	−0.0854^***	−0.0039^***	−0.4539^***	−0.0594^***	−0.0674^***	0.0542^***	0.4817^***
0.1	−0.1305^***	−0.1238^***	0.0659^***	−0.0843	−0.8872^***	−0.0252^***	0.071^***	0.5561^***
0.25	−0.3187^***	0.0685^***	0.1830^***	0.5262^***	−0.0310^***	0.0503^***	0.0050^***	0.3082^***
0.5	−0.1997^***	0.0063^***	0.1853^***	0.1036^***	0.0024^***	0.0093^***	−0.0017^***	0.0069^**
0.75	−0.2736^***	0.0031^***	0.2417^***	0.1951^***	0.0010^***	0.0003^***	−0.0019^***	−0.1663^***
0.9	−1.1085	−0.0798^**	0.902	−0.9777^**	0.0191	−0.3842	0.0094	−0.3189^**
0.95	−0.8001^***	0.2613^***	0.6311^***	−0.6864^***	0.0552	−0.1098	−0.2058	−0.8272^***

Note(s): ^***, ^** stands for 1% and 5% level of significance; The significance in italics implied safe haven assets