Analysis of the factors affecting the price of gold based on multiple linear regression

Gold has a variety of properties, in addition to the commodity properties, gold also has a monetary function. There are many investment values, so the price of gold is also much attention by investors. Many factors may affect the price of gold. In this paper, relevant data from December 2011 through December 2018 have been selected from a number of sources in order to provide as comprehensive a picture as possible of the various factors that may affect the price of gold. An Ordinary Least Squares regression model was used for the analysis. It was found that U.S. stock market conditions, gold mining conditions, U.S. dollar exchange rate, and crude oil-related indices have different correlation results from various perspectives of the index analysis. Besides, there is a significant positive relationship between the price of other precious metals and Gold Price. Meanwhile, The U.S. Economic Related Index has a significant negative impact relationship with Gold Price.