2024, Vol. 5, Issue 2, Part B
Analysing the impact of macroeconomic factors on gold prices in India
Author(s): Navpreet Kulaar and Dr. Manjinder Kaur
Abstract: This research paper investigates the impact of various macroeconomic variables such as global crude oil prices, Indian inflation rate, Indian rupee vis-a-vis US dollar exchange rate and US gold prices on the gold prices prevailing in India by using ordinary least square (OLS) mechanism. The findings exhibit that the crude oil prices and inflation have significant positive impact on gold prices indicating that a hike in these variables contribute to rising gold prices in India. Likewise, a significant and positive association between gold price and Indian rupee exchange rate has been observed which signifies that a rise in domestic exchange rate vis-a-vis foreign currency (US dollar) that is, depreciation in Indian rupee tends to escalate the domestic country’s gold prices. Further, an insignificant impact of US gold prices on gold prices in India has also been observed. JEL Classification Codes: E31, E44, F15, F31.
Pages: 119-122 | Views: 333 | Downloads: 207
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How to cite this article:
Navpreet Kulaar, Dr. Manjinder Kaur. Analysing the impact of macroeconomic factors on gold prices in India. Asian J Manage Commerce 2024;5(2):119-122.
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