UDC 303.722.2: 338.51
4DOI: 10.36871/2618-9976.2024.09.006
Authors
Irina I. Rayanova,
Student, Peter the Great St. Petersburg Polytechnic University, St. Petersburg, Russia
Yuriy Yu. Kochinev,
Doctor of Science (Economic), Professor, Peter the Great St. Petersburg Polytechnic University,
St. Petersburg, Russia
Natalia G. Viktorova,
Doctor of Science (Economic), Professor, Peter the Great St. Petersburg Polytechnic University,
St. Petersburg, Russia
Abstract
Gold is a valuable and soughtafter precious metal. The value of the gold price in the economy is high, and it often acts as an indicator of economic stability in the country. Over the years, the price of gold has been subject to significant fluctuations, which can be caused by various factors. The purpose of the scientific article is to analyze these factors and their impact on the formation of gold prices. The subject of the study is the relationships that arise in the process of forming gold prices. Statistical methods such as correlation and regression analysis will be used in the process of investigating the interrelationships and the influence of factors on the price of gold. The results of this study revealed several key factors that have a significant impact on the formation of gold prices. These include the MSCI WORLD index, the USD index (DXY), the price of Brent crude oil futures, and the Fed rate. The nature of the interaction between the price of gold and the USD index (DXY), the price of Brent crude oil, the VIX index, the price of Bitcoin, the inflation rate in the United States, the Fed rate and global gold production was also determined. The results are of practical importance for investors who are interested in forecasting the price of gold. They will help them make more informed decisions when trading gold and hedging their investment portfolios.
Keywords
Gold price, Inflation, Oil price, Dollar index, Precious metal, Macroeconomic indicator, Global financial market, Investment strategy
