Objective research to aid investing decisions

Value Investing Strategy (Strategy Overview)

Allocations for May 2021 (Final)

Momentum Investing Strategy (Strategy Overview)

Allocations for May 2021 (Final)
1st ETF 2nd ETF 3rd ETF

Gold Price Drivers?

August 21, 2019 • Posted in Economic Indicators, Gold, Sentiment Indicators

What drives the price of gold: inflation, interest rates, stock market behavior, public sentiment? To investigate, we relate monthly and annual spot gold return to changes in:

We start testing in 1975 because: “On March 17, 1968, …the price of gold on the private market was allowed to fluctuate…[, and] in 1975…the price of gold was left to find its free-market level.” We lag CPI measurements by one month to ensure they are known to the market when calculating gold return. Using monthly data from December 1974 (March 1978 for consumer sentiment) through July 2019, we find that: (more…)

Please or subscribe to continue reading...
Gain access to hundreds of premium articles, our momentum strategy, full RSS feeds, and more!  Learn more

Daily Email Updates