Determination of factors affecting the price of gold: a study of mgarch model

Yazarlar :

Çağatay BAŞARIR , Mehmet Fatih BAYRAMOĞLU , Prof. Dr. Cengiz TORAMAN ,

Yazar kurumları :

Balikesir University Department of Business Administration¹, Balikesir University Bandirma Vocational School Department of Economics and Administrative Sciences², Dogus University Vocational Scho

Görüntülenme :

1005

DOI :

Özet Türkçe :

Recently, increase of the gold prices attracts interest again together with the affects of the latest financial crisis. Main objective of this study is to determine factors affecting the gold prices. The study includes montly data between June, 1992 and March, 2010. Oil prices, USA exchange rate, USA inflation rate, USA real interest rate data are included in the model as variables. According to emprical findings, highest correlation is found between gold prices and USA exchange rate negatively. Secondly, a positive correlation is found between gold prices and oil prices.

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