Author(s): Sailaja VN, Akhil Kumar V, Padmini Kota VS
The World Gold Council estimates that 75% of India's gold demand over the previous decade has been in the form of jewellery. When a consumer's buying power rises, the price of gold rises. Gold's price rises for a variety of reasons. There are several elements that drive gold price changes. Several macroeconomic factors are examined in this research to see how they relate to gold's price and what effect that has. The research used gold demand, the nifty, the foreign exchange rate, inflation, the GDP domestic product, and the price of crude oil as independent factors and the price of gold as a dependent variable. The researchers used correlation and a multiple regression model as research methods the gold price is highly correlated with inflation, GDP, the nifty index, crude oil prices, and the foreign exchange rate. There is a little correlation between the price of gold and the amount of gold that people are willing to buy. According to the findings of multiple regression analyses, inflation and the nifty have a detrimental effect on the price fluctuations of gold, but gross domestic product and crude oil prices have a positive influence from this research, we can say that neither the demand for gold nor the fiscal deficit have any effect on the price of gold.