Factors Affecting the Disparity of Vietnamese Gold Prices and Worldwide Gold Prices

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F19%3A63522637" target="_blank" >RIV/70883521:28120/19:63522637 - isvavai.cz</a>

Result on the web

<a href="https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=341&cp=" target="_blank" >https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=341&cp=</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7441/joc.2019.03.10" target="_blank" >10.7441/joc.2019.03.10</a>

Result language

angličtina

Original language name

Factors Affecting the Disparity of Vietnamese Gold Prices and Worldwide Gold Prices

Original language description

Gold is a precious metal which is highly appreciated because of its prominent role in the world of investments, savings, and consumption. Although gold is no longer used as a primary form of currency in some countries, it continues to have a strong influence on the value of the currencies of those countries. Compared to all the other precious metals used for investment and trade, throughout history gold has always been preferred. The value of gold is a factor mentioned in the commodities and futures market. Vietnam does not produce/mine enough gold to meet its domestic requirements. As the country has to import over sixty percent of its gold, Vietnam’s gold price is mostly influenced by the world price movements, in turn increasing or decreasing domestically. Therefore, understanding and addressing the factors resulting in gold price disparities is essential in policy adjustments to stabilize the price of gold and prevent speculation, which may cause economic destabilization as well as a loss of competitiveness in Vietnamese market for gold and other precious metals. The study includes monthly data collected between January 2006 and December 2015. Exchange rates, import tax, and seasonal factor data are included in the model as independent variables. According to the empirical findings, the foreign exchange rate had a negative impact on the disparity between Vietnamese gold price and the world price. The import tax has a positive effect on the discrepancies among gold prices, while the seasonal factor variable was not statistically significant at 5 percent and negative concerning the disparity of the gold price.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Competitiveness

ISSN

1804-171X

e-ISSN

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Volume of the periodical

11

Issue of the periodical within the volume

3

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

13

Pages from-to

160-172

UT code for WoS article

000488260600011

EID of the result in the Scopus database

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