Study on the Dynamic Quantitative Relationship between International Gold Prices and the US Dollar
International gold prices and the US dollar index are two important trading commodities in the international market,with significant impacts on global finance and economy.Using the VAR model,this article explores the dynamic quantitative relationship between international gold prices and the US dollar index,and conducts single integration,cointegra-tion,and Granger causality tests on the monthly closing price time series of the two variables.The results show that there is a long-term equilibrium relationship between international gold prices and the US dollar index;The US dollar index has a mainly negative impact on international gold prices,with some periods experiencing a positive impact;The Granger reason for the US dollar index being the international gold price.Suggestions are made as follows:Appropriately increase holdings of gold assets and expanding gold reserves;Accelerate the promotion of the RMB index and gradually achieve linkage with gold;Strengthen international monetary cooperation and promote the internationalization of the renminbi.
international gold pricethe US dollar indexVAR modelequilibrium relationshipimpulse response
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