The impact of the COVID-19 pandemic on the gold market in Kazakhstan

A. Abisheva, Gülnur Sultankhanova, Gulmira Azretbergenova

2022

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DOI 10.52821/2789-4401-2022-2-116-129
Data confidence 70 medium
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Abstract

The purpose of this article is research of the impact of the global pandemic COVD-19 on the gold price in Kazakhstan. Research methodology. The authors used such methods to study the problem of general scientific methods and mathematical methods of cognition. The research was conducted by statistical methods, methods of analysis, modeling, as well as by comparison. Data were collected on the price of ounces of gold and the dollar index in Kazakhstan in 2017-2020, as well as the bottom data on the number of monthly infections with the coronavirus COVID-19 and the number of gold bars sold in Kazakhstan from January 2020 to December 2021. Originality / value of the research. The article analyzes the impact of the COVD-19 pandemic on the gold market, as well as makes an economic and statistical analysis of the price of gold and the number of gold bars sold. Changes in the price of gold over the past 5 years and the volume of gold sold have been determined. The results of correlation-regression analysis of the impact of gold prices on demand in the event of a crisis are shown. Findings. The authors concluded that the number of coronavirus infections caused by the pandemic caused a change in the price of gold. As a result of the correlation-regression analysis of the study, we found out that the growth of the coronavirus epidemic aff ected the high price of gold and the number of gold bars sold. Despite the high prices, we found that the demand for gold did not decrease.