Abstract:

The Kovid-19 pandemic, which can be called the epidemic of our age in these days, affects the financial markets as much as it affects the health sector. In a study aimed at measuring the impact of Kovid-19 pandemic on gold prices, the analysis was estimated using the ARDL model with daily data from 22.01.-08.04.2012. In the study that dealt with gold prices as a dependent variable, Kovid-19 Turkey case number, Kovid-19 World case number, US dollar currency, policy interest rates and fuel prices were included in the analysis as independent variables. In the framework of the ARDL model applied because selected variables are stable at different levels, the short-term and long-term analysis results have been interpreted. According to the error correction model results, the long-term capture rate of the model was estimated at 51 percent. It is under the knowledge and tradition that we can observe how investors develop behavior in situations that lead to global panic to financial instruments. According to the results of the analysis, in the short term, the price of gold and the dollar currency and the policy interest between negative, fuel prices, Kovid-19 World case number, Kovid-19 Turkey case number delays values, the price of gold delays values and the positive relationship between the policy interests has been found. According to the results of the long-term relationship, Kovid-19 Turkey has been observed that there is an equally integrated relationship between all variables except the variable number of cases and the price of gold.

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