The Effect Of Spot Gold Prices On Gold Stocks

This paper studies the spot price of gold in gold shares the influence degree of the price,it is concluded that the gold stock price and the spot gold price and the relationship between the Shanghai composite index,the investment strategy for the gold stocks investors,for policy-making departments and regulatory advice has certain significance.This paper analyzes and studies the price of gold stock and spot gold price and Shanghai index through Eviews software.Firstly,we should analyze the relationship between the three in the long term and obtain the linear regression model.Then,through the dobbin-Watson test,the random items were inspected and whether there was any self-correlation.Then,the value of the stock price was analyzed by F test and T test.Finally,the fitting of the model and the residual chart are used to determine whether the fitting of the model is good.The results show that there is a close correlation between pure gold stock price and spot gold price.In the long term relative to other influencing factors,the price of pure gold stock has a strong positive correlation with spot gold price.For other gold stocks,the closer the company’s main business to the gold relationship,the larger the company’s market capitalization,the more the spot gold price will affect its stock price.Gold products are only part of its main business,the smaller the total market capitalization,the lower the price of spot gold to its stock price.