Gold price and the amount of gold imports, transaction quantity, interaction of Brent oil and foreign trade

This research aims to model and statistically explain the economic relations between quarterly gold price, gold import volume, the gold market indices, gold trading volume, the price of the oil, foreign trade indices, USD rate and the Euro rates, between 2017 and Turkey 2000. Our main objective is to investigate whether gold import quantity, the gold market index, gold transaction volume, foreign trade index, USD exchange rate and quarterly changes in EURO exchange have a significant effect on the gold price. Meanwhile, we aim to investigate whether there is a mutual relationship between these variables. The regression analysis reveal that; while the price of the gold, the price of the oil and the changes in the foreign trade index affect the gold price in the same (positive) direction, the changes in the gold market index, the amount of gold transaction and the amount of gold imports affect the same variable in the negative direction.