  Long-range correlation and fluctuation in the gold market time series of
world's two leading gold consuming countries, namely China and India, are
studied. For both the market series during the period 1985-2013 we observe a
long-range persistence of memory in the sequences of maxima (minima) of returns
in successive time windows of fixed length, but the series as a whole are found
to be uncorrelated. Multifractal analysis for these series as well as for the
sequences of maxima (minima) is carried out in terms of the multifractal
detrended fluctuation analysis (MF-DFA) method. We observe a weak multifractal
structure for the original series that is mainly originated from the fat-tailed
probability distribution function of the values, and the multifractal nature of
the original time series is enriched into their sequences of maximal (minimal)
returns. A quantitative measure of multifractality is provided by using a set
of "complexity parameters".
