Peculiarities of Pricing in the Oil and Precious Metals Markets Amid Geopolitical Instability

Daria A. Vasilyuk, Svetlana I. Kapustina and Daria S. Sokolan

Chapter 29 in The Sustainable Development of the Entrepreneurial Economy in the Fifth Industrial Revolution, 2026, pp 349-360 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This research aims to investigate the relationship between price indicators in major commodity markets (the market for oil and precious metals (gold, platinum, and silver)) and identify and assess the reasons for this emerging relationship. The research also discusses the main factors influencing the formation of prices in these markets. The authors use price statistics for 1960–2023. Descriptive statistics and correlation analysis are used to determine the nature of changes in the link between oil and precious metals prices. The research objects are countries engaged in exporting and importing oil, gold, and silver. There is a long-term positive correlation between oil costs and valuable metals. The price of oil is one of the determining factors in the formation of gold, platinum, and silver prices. The price of oil can be used to predict price changes in the metal market. The author analyzed the correlation between oil prices and basic precious metal prices over the past 63 years. The research revealed that the prices of oil, gold, platinum, and silver have a positive high correlation with each other, ranging from 0.88 to 0.95. Thus, a change in prices for one of the analyzed goods is accompanied by a change in prices for other goods. In times of uncertainty, oil, gold, platinum, and silver prices are likely to increase. Geopolitical instability can drive price fluctuations across various commodities.

Keywords: Sustainable Development; Entrepreneurship; Innovation; Technology; Information Management; Organizational Behavior; Industrial Organization; Entrepreneurial Economy; Fifth Industrial Revolution; Cause-and-Effect Relationships; Fourth Industrial Revolution; Digital Technology; Industry 5.0; Operations Management; Operations Research; Supply Chain Management; Fintech; Cryptocurrency; Blockchain; Economics and Finance; Corporate Governance; Technological Environment; National Economy; State Management; Corporate Management; Agro-Industrial Complex 5.0; Fuel and Energy Complex 5.0; BRICS; EAEU; Central Asia; Social Responsibility; Digital Competitiveness; Digital Energy; Entrepreneurial Universities 5.0; Machine Learning; Cyber-Social System; Smart Company; Management of AI; Automatization; Decision-Making in Entrepreneurship; Big Data; Blockchain Finance; Robotisation Of Production; Applied Technological Solutions; Smart City; Local Entrepreneurial Economy; Modernisation; Institutes of Globalisation; E-Government; Innovative Economy; Knowledge Society; BRICS+ (search for similar items in EconPapers)
JEL-codes: L26 O33 Q01 (search for similar items in EconPapers)
Date: 2026
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