In this paper, we investigate the risk contagion among the Brent crude oil market, London gold market and stock markets (Chinese and European). In the paper, we employ the CEEMDAN method and fine to coarse algorithms to decompose these market returns into different components. Then, we use the Granger causality test to assess the risk contagion between these markets under different time and frequency components. The results show that single direction risk contagion running from the Brent crude oil market and the London gold market to the stock markets (Chinese and European) is found in irregul...
