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Domestic macroeconomic determinants of precious metals prices in developed and emerging economies: An international analysis of the long and short run

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  • Rana, Hafiz Muhammad Usman
  • O'Connor, Fergal

Abstract

This study examines the relationship between domestic macroeconomic factors and domestic precious metals prices across developed and emerging markets from 1979 to 2020. The statistical characteristics of the domestic variables are not found to be consistent across countries, so that these relationships cannot be modelled in one specific way. To model each metal domestically, we use various time series techniques as dictated by the combined characteristics of the domestic variables.

Suggested Citation

  • Rana, Hafiz Muhammad Usman & O'Connor, Fergal, 2023. "Domestic macroeconomic determinants of precious metals prices in developed and emerging economies: An international analysis of the long and short run," International Review of Financial Analysis, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:finana:v:89:y:2023:i:c:s1057521923003290
    DOI: 10.1016/j.irfa.2023.102813
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    More about this item

    Keywords

    Precious metals prices; Long-run equilibrium; Inflation; Unemployment; Emerging markets;
    All these keywords.

    JEL classification:

    • G0 - Financial Economics - - General
    • G1 - Financial Economics - - General Financial Markets
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation

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