Gold market analysis with an econometric approach

Gold has an important place in monetary system for a long-time. Over time, it lost it?s place in the monetary system, because of the developments in the international trade and financial markets, but it?s still been used as a value storage tool. In this study, gold monetary systems, gold?s importance in world and Turkish economy and uses of gold are mentioned. To analyse the factors which effects the Turkish gold prices, Cumhuriyet gold coin is used as dependent variable and seven other variables as independent variables. Analyses made by using stationarity approach, cointegration method and error correction mechanism.