International Conference on Eurasian Economies
29-31 August 2016 – Kaposvár, HUNGARY
Paper detail
Paper ID : 1728
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Prof. Dr. Turgut Özkan
Session : 1D Finans I
The Empirical Analysis of the Basic Factors Effecting the Gold Market in Turkey
Türkiye’de Altın Fiyatlarına Etki Eden Temel Faktörlerin Analizi
- Prof. Dr. Turgut Özkan (Doğuş University, Türkiye)
- Çiğdem Kolay (Istanbul Beykent University, Türkiye)
Abstract
The gold which is the most important metal known since seven thousand years and is located in the first place among the precious metals protects being the saving mean. Gold increasingly preferred in industry due to the technological purposes, and because of its mentioned specifications creates the significant price fluctuations within its specific market structure. In this study, the basic national factors effecting the gold market in Turkey were tested in terms of empiric. Weighted average gold prices used as a dependent variable; whereas basket exchange rate, BIST 100 index, deposit interest rate and inflation rate used as an independent variable. The data related to these variables were dealed on a monthly basis, between the years of January 1999- December 2014. Taking the advantage of the e-views package program, multiple regression model was performed in the analysis. In the final result of the analysis, the impacts of all independent variables but BIST 100 index values, on gold market prices were statistically found to be significant.
JEL codes: C58, D53, G15
Özkan, Turgut, Kolay, Çiğdem (2016). "The Empirical Analysis of the Basic Factors Effecting the Gold Market in Turkey" in Proceedings of International Conference of Eurasian Economies 2016, pp.573-582, Kaposvár, HUNGARY.
DOI: https://doi.org/10.36880/C07.01728
