FACTORS AFFECTING GOLD PRICE IN THAILAND AND FOREIGN COUNTRY
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Abstract
This research aims to study the factors influencing gold prices in Thailand, the United States, and the United Kingdom using monthly data from January 2012 to June 2022. The estimation method used in this study is Ordinary Least Squares (OLS).
The results show that the real effective exchange rate (REER) and the Russia-Ukraine war have a significant impact on gold prices in Thailand at 0.05 and 0.01 significant levels respectively. When considering the United States and the United Kingdom, the money supply, the government bond yield, the real effective exchange rate (REER), the world oil price, and Russia-Ukraine war significantly affect gold price in the United States at 0.05, 0.10, 0.01, 0.10 and 0.01 significant levels respectively, while the real effective exchange rate (REER) and Russia-Ukraine war significantly affect the gold price in the United Kingdom at 0.05 and 0.01 significant levels respectively.
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References
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