The Research Of Factors Influence Gold Price

Since early 70s the 20th century, after the collapse of the Bretton Woods system, gold prices are no longer directly linked to the U.S. dollar, gold prices have been deregulated, which makes the factors that influence the price of gold has become more complex, the gold price fluctuations will be more intense. Gold has the financial attributes as a special product, the change in price will determine the value of gold investor and producer behavior; Meanwhile, the dynamic evolution of the price of gold reflects the investment decision-making process by the main economic activity in financial markets.As a commodity, gold price will be effects the relationship between supply and demand. Sources of supply of gold can be divided into three areas:the supply of mineral gold, gold supply is renewable and the supply of Financial institutions; gold demand is mainly in three aspects:first, demand for gold in the manufacturing sector, which mainly reflected in the jewelry industry and the industrial sector; second,gold reserve requirements; third, the speculative demand for gold. This supply and demand for gold to establish multiple linear regression, regression results show that gold supply and demand affect the parts of gold, some gold demand or supply on the price of gold had no significant effect. The inflation rate CPI, U.S. dollar interest rate index, the international crude oil prices, U.S. Treasury bonds and other factors constitute an important factor in the price of gold. Analyze the relationship between the price of gold and the various factors, then establish Model Number of the gold price and different factors. Various factors on the price of gold to quantify the degree of influence for the study of changes in the price of gold provided a reliable basis.