Gold Price Changes and Reflection It on Stock Prices A study of a Sample of Selected Sectors in The Saudi Stock Market For The Period 2003-2020
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The research aims to study the long term relationship between the movements of gold prices and the Saudi stock market TADAWUL as one of the largest and most important financial markets in the region. As it is considered the largest capital market in the Middle East and the ninth largest stock market in the world, with an estimated market value of shares of companies listed in the main market at $2.62 trillion. In order to verify the research hypothesis and reach the results, it has A simple linear regression analysis model was used - OLS Ordinary least squares method - based on monthly data for a period from 1-2003 to 12-2020 (18) years. The results showed that the reaction of the general index of the prices of the Saudi stock market TASI was negative towards the movements of gold prices. The research also tried to test the relationship between gold prices and two important sectors in the Saudi stock market, Telecom Information Sector (TTIS)، and the Banking and Financial Services Sector (TBFS). Where the results showed a divergence in the response of these two sectors towards changes in gold prices between positive and negative. Based on what the results of the study revealed, the price of gold can be considered one of the variables that investors and financial analysts must take into account when formulating investment decisions and one of the engines through which it is possible to predict the behavior of stock prices in the short term.
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ثالثاً. مواقع الانترنت:
Kimberly Amadeo, Eric Esteves, 2022, What is A Cold Bubble, www.The Balance Money.com
www.Tadawul.com.sa