Analysis of the Relationship between Oil and Gold Prices

This article focuses on the relationship between oil and gold prices. The aim of this article is to analyze and determine the character of the co-movement between price levels. This article also presents the basic characteristic and determinants of current price trends. This work uses methods of analysis and synthesis of theoretical knowledge from literature, published articles and other publications. There is also included a quantitative analysis of the variables, such as Granger causality test, Johansen cointegration test and Vector Error Correction model. This paper reveals the existence of a long-term relationship between analyzed variables.