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ALLANA MANAGEMENT JOURNAL OF RESEARCH, PUNE - Volume 7, Issue 1, January 2017 - June 2017

Pages: 1-4

Date of Publication: 30-Jun-2017

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An Analytical Study on Relationship between gold Price, Crude oil Price & Sensex Movement Form Fiscal Year 2011 to 2016

Author: Dr. Sambhaji Vishnu Mane, Mr. Ravi Bhandari

Category: Financial Management


Gold prices are very volatile in nature. As per world gold council gold demand in India is about to rise 33% by 2020. Historically it has been seen that when risky investment like shares & commodity start to move in negative trend, Investors switched to safe investment avenues like gold. Analysis of the historical data reveals that when the stock market crashes or dollar weakens, gold continues to be a safe haven investment because of rising gold prices in such circumstances. It can be safely concluded that investors increasingly hedge their investments through gold at the time of crises. Gold price vary with respect to different factors. In this study author has considered gold price as dependent variable & following independent variable were considered for the study:

1.Crude oil price

2.Sensex movement

Time period sellated for the study is from fiscal year 2011 to fiscal year 2016, In this study multiple regression model will be used to find out whether there exi relationship between gold price & crude oil price, Sensex movements. any


Gold price, Sensex, Crude oil price.