Factors affecting gold prices: A review paper

The gold has existed since the dawn of the civilisations and has been considered to one of the major investment instruments across the globe even today. The demand for gold comes from various sources such as jewellery, investment, industrial among others. The gold is one of the most sought instruments because of its typical characteristics. There has been an erroneous amount of research in the field of economics and management to understand the forces which drive the price of the gold across the globe. The researchers have used various tools to analyse the movement in the price of the gold. There has been considerable research where the gold has been compared and has been affected by other investment instruments such as US dollar, Crude oil among others. The present research presents the important research which has been carried out across the globe on the various factors which affect the price of the gold. The researchers have also used the reports of the World Gold Council, Reserve Bank of India among others to figure out the development and the movement of the price of gold and the factors affecting the same. The time frame for reviewing the research is last decade wherein the researchers have tried to cover the important researches in the aforementioned topic.