University of Tehran Iranian Economic Review 1026-6542 26 2 2022 06 01 Exchange Rates, Gold Coin Prices, and Herding in the Stock Market 389 406 88170 10.22059/ier.2022.88170 EN Gholam Hossein Asadi Faculty of Management and Accounting, Shahid Beheshti University, Tehran, Iran Hossein Abdoh Tabrizi Faculty of Management and Accounting, Shahid Beheshti University, Tehran, Iran Sajad Farazmand Faculty of Management and Accounting, Shahid Beheshti University, Tehran, Iran Journal Article 2022 07 16 This study investigated the occurrence of herding in the Iranian stock market and the effects of gold prices and currency exchange rates on this phenomenon. For this purpose, the rate at which herding occurs in the Tehran Stock Exchange was calculated and analyzed, after which stock price data were classified based on gold prices and currency exchange rates. Herding under different exchange rates and gold price returns was also examined. Results showed that herding in the stock market was significant at the 1% level during sharp changes in gold and currency prices. https://ier.ut.ac.ir/article_88170_a1fe7ac96dc71c8113b5a15fe155cd53.pdf