Correlation Analysis Between Crude Oil and Gold

Yiran Chen ()
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Yiran Chen: Capital University of Economics and Business, School of Public Finance and Taxation

A chapter in Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025), 2025, pp 464-472 from Springer

Abstract: Abstract The current market has a close link between CL/GC, with a possible correlation. The fluctuations in crude oil prices may somewhat affect the gold prices. This study utilises SPSSPRO to perform DLS regression analysis on crude oil, gold, and other variables to derive correlation results. The research collected data of crude oil, gold and related macroeconomic factors in the past 10 years for analysis and research and obtained the average value and other relevant data. Finally, the path chart of relevant variables was obtained to see the correlation between dependent variables, independent variables and control variables more clearly. The study finds a positive correlation between crude oil and gold prices, meaning that when crude oil prices rise, gold prices also rise, and when crude oil prices fall, gold prices fall. Other macroeconomic factors also correlate with gold prices, such as rate of inflation, US federal interest rate and exchange rate (US), these macroeconomic factors all have a high or low impact on gold, but the degree of correlation varies.

Keywords: Crude oil; Gold; Macro environment; Regression analyze (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-835-6_49

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DOI: 10.2991/978-94-6463-835-6_49

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