Gold is one of the alternative investments considered lucrative. This study aims to investigate the Effect of Ambiguity Aversion, Illusion of Control, and Source of Funding on Gold Investment Decisions. The data acquired through a survey of real gold investors aged between 21 and 56 years were analyzed by OLS. The results of this study revealed that Ambiguity Aversion and Illusion of Control affected gold investment decisions while the source of funding did not affect gold investment decisions, implying that gold investment may have meager risk and potentially be lucrative.
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