The impacts of international events on the gold price

Abstract

Uncertainty is one of the determinants of change in gold prices. By focusing on the date of turning points on the gold price curve from the Gold Price website, I have found that when the gold price changed, it always related to some big events. I believe that there might be some relationship between international events, including politics, finance, and war, and gold price. In this study, I have taken the historical international events in the past semi century and studied their impacts on the gold price. We found that the gold price is sensitive to the impact of international events. Our study could be a considerable reference for gold investors, who want to use gold as an investment tool or hedging risk tool.