The impact of stock market crises on local and global safe-haven assets

Our study examines the valuable assets and stock performance as a hedge during three financial market crises which include the Global Financial Crisis (GFC) in 2008, the COVID-19 pandemic, and the Russia-Ukraine Conflict in 2022. Furthermore, this study identifies how much volatility exists in the relationship between stock-market Indices and precious assets. employing 4 different techniques to test the hedging properties of all assets and stocks on daily data from January 1990 to May 2022 of all variables, our results discover that there are only two assets that maintained their value even during all three financial crises (GFC 2008, COVID-19, and Russia and Ukraine Crises 2022). Furthermore, the study findings confirm that by adding both silver and gold in a portfolio mixed with stocks, the volatility of the portfolio has decreased while the portfolio return has increased.