Growth or Preservation of Wealth? An Examination of IndianMutual Funds and Gold Investments Based on Factors
-
https://doi.org/10.14419/nra9cs72
Received date: June 19, 2025
Accepted date: July 16, 2025
Published date: July 20, 2025
-
Gold Investment; Mutual Funds; Portfolio Diversification; Risk-Return Analysis; Behavioral Finance; Investment Decision-Making; Indian Retail Investors; Systematic Investment Plan (SIP). -
Abstract
The following paper reviews the characteristics, advantages, and risks associated with gold and mutual fund investments. This paper tries to guide investors seeking portfolio diversification through a comparison of investor profiles. The analysis in this paper may guide investors in making informed decisions.
-
References
- Singh, A., & Iyer, R. (2025). Gold as a Safe Haven in Post-Pandemic India: Reassessing the Hedge Hypothesis. Asian Journal of Economics and Finance, 12(1), 35–48.
- Desai, D., Singh, A., & Mukherjee, A. (2025). Investor Typology Using Machine Learning in Mutual Fund Segmentation. Journal of Investment Analytics, 8(1), 20–34.
- Choudhury, S., & Verma, P. (2024). Psychological and Demographic Determinants of Mutual Fund Investment: A Factor-Based Study. Interna-tional Journal of Behavioral Finance, 6(2), 70–89.
- Reddy, V., & Nambiar, T. (2024). Recession-Proof Portfolios: A Comparative Performance Review of Gold and Equity Funds. Journal of Asset Management, 25(2), 109–126.
- Joshi, M., & Lakhani, D. (2024). SIP Trends in India: Youth Participation and Long-Term Commitment. Indian Journal of Capital Markets, 9(3), 98–113.
- James, N., Menzies, M., & Gottwald, G. A. (2023). On Financial Market Correlation Structures and Diversification Benefits. arXiv preprint, arXiv:2205.04833. https://doi.org/10.1016/j.physa.2022.127682.
- Nair, A. R., & Bhat, R. (2023). Comparative Risk-Return Performance of Mutual Funds and Gold During Economic Cycles. IUP Journal of Ap-plied Finance, 28(1), 45–62.
- Chen, J., & Qian, J. (2023). The Role of Gold in Inflation-Hedged Portfolios. International Review of Financial Analysis, 72, 102123.
- Kumar, V., & Sharma, S. (2023). Modeling Investor Behavior in Mutual Funds: A Factor Analysis Approach. Finance Research Letters, 48, 103014.
- Mushtaq, I. (2023). Gold vs. Mutual Funds: A Liquidity Perspective. South Asian Economic Review, 17(2), 59–75.
- Rebello, M., & Saha, S. (2022). Understanding Demographics in Gold Investment Decisions. Journal of Personal Finance, 22(4), 144–160.
- Schoenfeld, J. (2022). The Renewed Role of Gold in Portfolio Management. Financial Review, 57(3), 189–206.
- Jain, R., & Chaudhary, V. (2022). Behavioral Aspects of Mutual Fund Investment. Journal of Behavioral Economics and Finance, 5(2), 88–101.
- Beckmann, J., & Czudaj, R. (2021). Portfolio Diversification with Gold: Evidence from Emerging Economies. Journal of Banking & Finance, 126, 106105.
- Elmawazini, K., & Binsalih, A. (2021). Gold and Market Crises: A Comparative Performance Review. Resources Policy, 71, 102011. https://doi.org/10.1016/j.resourpol.2021.102011.
- Kumar, S., & Ghosh, S. (2021). Investor Behavior in Mutual Funds: Evidence from India. Journal of Behavioral Finance, 22(2), 195–207.
- Mishra, R. (2021). COVID-19 and Asset Class Resilience: Gold vs. Mutual Funds. International Journal of Finance and Economics, 26(3), 455–470.
- Sharma, M., & Bhardwaj, S. (2021). Age-Based Trends in Mutual Fund Adoption. Asian Journal of Economics and Banking, 6(2), 120–138.
- Frontiers in Psychology. (2021). Determinants of Mutual Fund Investment: A Cross-Sectional Study. Frontiers in Psychology, 12, 748219.
- Chen, J., & Qian, J. (2020). The Role of Gold in Portfolio Diversification: Evidence from U.S. Data. International Review of Financial Analysis, 70, 101487.
- Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77–91. https://doi.org/10.1111/j.1540-6261.1952.tb01525.x.
- Kahneman, D., & Tversky, A. (1979). Prospect Theory: An Analysis of Decision under Risk. Econometrica, 47(2), 263–291. https://doi.org/10.2307/1914185.
-
Downloads
-
How to Cite
Twinkle , M. ., & S , D. N. S. . (2025). Growth or Preservation of Wealth? An Examination of IndianMutual Funds and Gold Investments Based on Factors. International Journal of Accounting and Economics Studies, 12(3), 174-179. https://doi.org/10.14419/nra9cs72
