Determinants of gold price in Malaysia / Noor Fadhilah Rasyidah Ab Razak and Raja Maizatul Syamira Raja Azizul

Gold is a precious metal which serves as both financial and real assets. The value of gold in the society goes more than just economic, as it is also treasured as a storage and display of wealth and culture. In the long-run, its prices keep increasing due to high demand and inadequate supply worldwide. However, in the short-run, its price seems to be fluctuated due to various potential reasons. Therefore, this study was conducted to determine the factors that affect gold prices in Malaysia. This study investigates the relationship between and independent variables which are inflation rate, interest rate, exchange rate and crude oil price with dependent variable which is gold price. In order to achieve the objective, this study used multiple linear regression models to identify the significant variable and this study used monthly data from November 2008 until September 2018. From the analysis, it has found that inflation rate, and crude oil price have negatively significant relationship towards gold price in Malaysia. Interest rate has positive significant relationship towards gold price in Malaysia. Meanwhile, exchange rate has insignificant relationship towards gold price in Malaysia.