1. ABSTRACT
INTRODUCTION
Gold was one of the first metals humans excavated. Gold as an asset has a hybrid
nature: it is a commodity used in many industries but also it has maintained
throughout history a unique function as a means of exchange and a store of value,
which makes it akin to money. After World War II, the Bretton Woods system
pegged the United States dollar to gold at a rate of US$35 per troy ounce. The
system existed until the 1971, when the US unilaterally suspended the direct
convertibility of the United States dollar to gold and made the transition to a fiat
currency system.
LITERATURE REVIEW
DATA ANALYSIS
SUMMARY OUTPUT
Regression Statistics
Multiple R 0.3856
R Square 0.1487
Adjusted R Square 0.1451
Standard Error 0.0201
Observations 243.0000
ANOVA
df SS MS F Significance F
Regression 1.0000 0.0170 0.0170 42.0885 0.0000
Residual 241.0000 0.0974 0.0004
Total 242.0000 0.1144
Coefficients Standard Error t Stat P-value
Intercept 0.0030 0.0013 2.3066 0.0219
USD_RET -0.7834 0.1207 -6.4876 0.0000
