Published Paper Details:

This study delves into the complex interplay between gold prices and a multitude of macroeconomic factors in India, recognizing gold's pivotal role as both an asset class and a store of value in the nation's economic framework. Through a meticulous examination of historical data and the application of statistical and econometric methods, the research explores a broad spectrum of influences including inflation, interest rates, exchange rates, global economic conditions, stock market performance, monetary policies, government regulations, jewelry demand, crude oil prices, consumer confidence, and global gold market dynamics. The primary objective of the study is to unveil the intricate connections between these macroeconomic indicators and fluctuations in gold prices within the Indian context. In doing so, it offers invaluable insights tailored for investors navigating decision-making processes, policymakers shaping economic and monetary strategies, and businesses entrenched in the gold industry. Furthermore, the study recognizes the distinct impact of cultural events and traditions on driving gold demand in India, thereby adding a nuanced layer to the analysis of the Indian gold market. Specifically, it underscores the significance of comprehending how factors such as foreign exchange rates and inflation rates influence gold prices, with a dedicated focus on a decade-long dataset encompassing foreign exchange rates and crude oil prices. In summary, this research significantly enriches our understanding of the dynamics governing the Indian gold market and furnishes actionable insights crucial for stakeholders across various sectors within the industry.