THE INFLUENCE OF ECONOMIC FACTORS AFFECTING THE PRICE OF GOLD BARS IN THAILAND

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Ausawatap Akartwipart
Boonyanuch Cheewakiatyingyong
Prawit Fuekfon
Thanarat Onmee

Abstract

This study aimed to examine the influence of economic factors on the price of gold bars in Thailand. Four economic factors were applied, namely the exchange rate of Baht to Dollar, the Bank of Thailand’s policy interest rate, the consumer price index, and crude oil prices in the world market which were secondary data, collected monthly for 60 months from January 2018 to December 2022 using multiple regression analysis.


The findings indicated that the Bank of Thailand’s policy interest rate, consumer price index, and crude oil prices in the world market influenced the price of gold bars in Thailand at a significance of 0.05 while the exchange rate of Baht to Dollar did not influence the price of gold bars in Thailand at a significance of 0.05.

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Research Article

References

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