The determinants of gold prices in Vietnam

Abstract

This research aims at testing the correlation between the price of gold and many macroeconomic variables in Vietnam.
Multiple Linear Regression is employed to determined significant relationship between dependent and independent
variables, covering the data collected from January 2010 to June 2016. Five independent variables that affect the
gold prices are crude oil prices, CPI, USD exchange rate, VN-Index and HNX-Index. The results shows that there
is negatively significant relationship between VN-Index, HNX-Index and gold prices, meanwhile crude oil price is
positively significant. However, CPI and USD exchange rate have no role in affecting the price of gold.