Determinants of Gold Prices in Pakistan

Kamran, Asif; Israr, Shumaila; Rizvi, Syed Muhammad Ahsan

doi:10.1007/978-3-642-40081-0_103

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Lecture Notes in Electrical Engineering

2013

DOI: 10.1007/978-3-642-40081-0_103

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Determinants of Gold Prices in Pakistan

Asif Kamran

Shumaila Israr

Syed Muhammad Ahsan Rizvi

Abstract: Gold has been valued as the most excellent used expensive metal not only due to its usage in ornaments; Gold is well thought-out one of the most valuable metals in the world. The relationship of gold prices with many variables is well discussed in this research study. In this research paper we have to look into the empirical studies and theoretical frame work to identify the explanatory variables that have significant effect on the gold prices. We are including the rate of inflation in the pricing model as gol… Show more

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Cited by 3 publications

References 7 publications

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Estimation of International Gold Price by Fusing Deep/Shallow Machine Learning

Chen

2022

Journal of Advanced Transportation

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In this work, we propose a new method that combines the support vector machine (SVM) and the long short-term memory (LSTM) model utilizing the theory of quotient space to predict the price of gold by leveraging the price factors that have supposedly an impact on the gold price. The Pearson correlation coefficient is employed to measure the relations between nine price factors and gold price. The five price factors with larger correlation coefficients are picked. Then, by utilizing the Granger causality test, the gold price may change concerning the two price factors when time is a concern, which results in combining the results of the correlation analysis with the results of Granger causality leading to a total of seven price factors. Also, the gold price can be divided into the quarters of the year according to the theory of the quotient space and temporal attribute. With three granularities per month, a 3-layer quotient space is constructed based on the synthesized and calculated granularities. The proposed method provides the prediction results that are compared with the predicted values of some grey models (GM) and the actual gold price, respectively. The results suggested that the prediction results of gold price have a comparable lower error measurement and perform better.

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Estimation of International Gold Price by Fusing Deep/Shallow Machine Learning

Chen

2022

Journal of Advanced Transportation

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Investment Inertia: A Choice Overload of Investors in Pakistan

Qazi

Kashif

2018

SSRN Journal

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Dynamic relationship between equity, bond, commodity, forex and foreign institutional investments: Evidence from India

Matha

Geetha

Kumar

et al. 2022

Investment Management and Financial Innovations

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The interrelationship between equity, bond, commodity and forex movements can provide investors with abundant trading opportunities regardless of whether one market is trending upward or downward. Hence, to understand the interlinkage between markets, this study examines the long-run and causal linkage between forex, G-sec bonds, oil prices, gold rates, foreign institutional investment (FII) flows, and equity market and sectoral index returns. Daily time-series data from August 2012 to August 2021 were considered for empirical analysis. Johansen’s cointegration test revealed that foreign exchanges like USD, Euro, GBP and Yen, oil and gold rates, G-bond returns and FII flows were significantly cointegrated with the stock market and sectoral indices in the long run. Further, Granger causality found a uni-directional relationship between forex rates (i.e., USD, Euro, Yen) and the market, as well as sectoral indices, except Nifty 50 and Nifty IT indices. Oil price movements were found to effectively predict future price changes of Nifty consumer durables, auto, IT indices. Gold prices are useful to predict Nifty-Auto, Bank, Financial Services, Oil &amp; Gas and PSU. The study also found a bi-directional relationship from FII inflows to the stock market and sectoral indices. The findings suggest that forex rates, oil prices and FII flows significantly affect India’s stock market and sectoral performance. The study contributes to the existing literature by comprehensively examining the interlinkage between commodities such as oil and gold, foreign exchanges like USD, Euro, GBP and Yen, G-bond, FII flows and the stock market, and fourteen sectoral indices in the Indian context.

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Determinants of Gold Prices in Pakistan

Cited by 3 publications

References 7 publications

Estimation of International Gold Price by Fusing Deep/Shallow Machine Learning

Estimation of International Gold Price by Fusing Deep/Shallow Machine Learning

Investment Inertia: A Choice Overload of Investors in Pakistan

Dynamic relationship between equity, bond, commodity, forex and foreign institutional investments: Evidence from India

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