Dynamic linkages among oil price, gold price, exchange rate, and stock market in India

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Cointegration and nonlinear causality amongst gold, oil, and the Indian stock market: Evidence from implied volatility indices (2017, positive): “…to the 2007-08 global financial crisis (GFC) and the financialization of commodity markets (Aboura and Chevallier, 2015), other studies also argue that several macroeconomic variables that include gold and oil prices and their volatilities, can affect stock market indices (Jain and Biswal, 2016).”
The impact of gold and crude oil prices on stock market in Turkey: Empirical evidences from ARDL bounds test and combined cointegration (2017, background): “Another study by Jain and Biswal (2016) explored the relationship between the global prices of gold and crude oil, the USD-INR exchange rate, and the stock market in India.”
Does the Indian Financial Market Nosedive because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST? (2020, background): “…that India’s stock market is influenced by mutual funds (Edelen and Warner 2001; Narayan, Narayan, and Prabheesh 2014), gold and crude oil prices (Jain and Biswal 2016), currency risk (Garg and Dua 2014), exchange rates and foreign equity flows (Dhingra, Gandhi, and Bulsara 2016; Mishra 2004),…”
On the nonlinear relation between crude oil and gold (2017, background): “Such models may no longer be suitable due to the increasing tendency of commodity prices to behave like financial assets (Jain and Biswal, 2016).”