Gold Price Indicators in the U.S.
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Authors
Goetschy, Grant
Issue Date
2024-04-04
Type
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Abstract
In this study, various data is analyzed to determine which factors regarding the U.S. economy have the largest impact on the price of gold in the U.S. The dependent variables of this analysis include various statistics that show a comprehensive view of the U.S. economy. The included variables range from GDP figures to cost of living measures. These differing facets are included as variables in order to gather a wide ranging look at the economy. The type of study to be performed is a
multiple regression through Microsoft Excel to determine which independent factors impact the dependent ones. The reason for studying the price of gold in the U.S. is because of the relatively stable nature of gold as a commodity of value throughout history. Gold, and other precious metals, have long been used as holders of value and mediums of exchange. This function has carried into modern times where gold is still considered something of value. Seeing as gold effectively holds its value, it serves as the perfect candidate to depict the status of valuables in an economy at a certain point in time, and it can be used as an overarching
measurement of how valuables have been priced throughout time. Similar to how gold has held its value for much of history, it is reasonable to claim that it
will go on to hold value for years to come. As such, its examination in this study is extremely relevant because its findings, of how gold prices fluctuate historically, can be utilized to predict how occurrences in the future will impact gold prices. This is useful information for anyone from investors to those in charge of economic regulatory affairs. By studying the past performance of gold prices, indicators will be identified as being influential to it, and individuals may use these indicators to hypothesize how gold prices may manifest in coming periods. Based on early evidence, it is likely for the GDP to debt ratio, inflation rate, and GDP growth rate to have the biggest impacts on gold prices. Further investigation will determine if these statements hold true.