Domestic Macroeconomic Determinants of Precious Metals Prices in Developed and Emerging Economies : An International Analysis of the Long and Short Run

This study examines the relationship between domestic macroeconomic factors and domestic precious metals prices across developed and emerging markets from 1979 to 2020 using the multiple time series techniques - Johansen Cointegration, VECM, VAR, ARDL models, and Wald tests.The findings reveal relationships that are not consistent across countries or precious metals. There is also no discernible pattern between developed and developing markets. No consistent set of variables is found to exist that can explain either the short or the long run across countries or metals