Gold and Cryptocurrency as Safe Haven Assets for Commodities, Stocks, and Bonds: Evidence from the Russia-Ukraine War

This research was conducted to determine whether gold and cryptocurrency (i.e., Bitcoin) can be used as safe haven assets for oil, wheat, stock index (SI), government bond (GB), Islamic (IS), (IB) during the Russia-Ukraine war. We panel quantile regression by utilizing extreme lower quantiles 1%, 2.5%, 5%). It will only recognized a asset if it is negatively correlated with another adverse shocks. The data spans from 23 February 2021 – 25 July 2022 which covered five largest economies in Europe Asia Germany, France, UK, China, Japan). findings indicate that acted SI, IS Additionally, Bitcoin serves GB