What influences the price of gold

[DanSmithCoinsUSA]

Back in the late 1970's when I was studying Economics to be a research economist, I did a mulitvariate linear regression analysis of potential
variables than effect the price of gold.

I used many variables, singly and in various groups of variables.

The only major variable with statistical significance was the price of oil, which I think may be low for awhile after the BP thing with huge negataive publicity.

I expect gold to go sideways for months, bouncing up and down a little but no major moves.

Any questions, I am happy to help.

 

Amazon Forum Fav 👍

A History of Mining on the Kenai Peninsula, Alaska - Grab it through Amazon!

[El Dorado Seeker]

Yes, you are right. There's a strong connection between gold's price and oil's price.

http://s3.media.squarespace.com/pro...8/06/gold-oil-usd-since-2001-09-june-2008.JPG

Right now gold is getting cheaper. I wonder if this has any connection/parallel with oil's price?

 

[Marchas45]

Bloody heck if your going to use a chart at least make it up to date. 2001 to 2008? In this market there is no Connection with other commodities, Example: When the dollar drops gold and silver rises, not last week, they all fell at the same time which was highly unusual. So in my opinion the answer to your question IMO is NO.