Table 1.

Summary statistics

	Prices		Returns
	WTI	Gold	WTI	Gold
Min.	8.91	1049.4	-10.09	-140.5
Max.	113.39	1895	8.34000	80.35
Mean	71.37	1355.053	-0.02350789	0.222
St. dev.	22.62385	182.5971	1.424845	14.066
Kurtosis	-1.182962	-0.3524728	4.639625	9.472
Skewness	-0.02285266	0.793256	-0.3557669	-0.66722
Jarque-Bera	151.35	2677.6	2390.1	10296
ADF	-2.2344	-1.7865	-13.519	-13.708

Notes: Summary statistics for daily WTI and gold prices and returns respectively from January 4, 2010, to May 4, 2020.

Jarque–Bera statistic tests for the null hypothesis of Gaussian distribution.

ADF denotes the statistics of the augmented Dickey and Fuller test.