摘要
黄金与股票是金融市场体系的重要组成部分,研究黄金价格与股票价格变动的关系能够为投资者在对黄金与股票市场进行投资决策时提供一定的参考。文章利用2017-2018年上海黄金交易所发布的AU9995黄金的日收盘价作为我国黄金价格数据,对应日期上证综合指数的日收盘价作为股票数据,对黄金价格与股票价格之间的关系进行实证研究。研究表明,我国的上证综合指数与黄金价格总体呈现负相关的关系。从长期发展的角度看,黄金价格受到外部社会以及经济环境诸多因素影响。股票市场中出现的上升波动,黄金市场价格会表现出一定的减弱趋势。但在某些重要的时间节点上,同样也出现了股票市场和黄金市场齐头并进的态势。对于个人投资者来说,应注意探查股票市场与黄金市场价格波动的联系,在股票市场低迷时期关注黄金市场的价格走势,优化资金配置。
Gold and stock is an important part of the financial market system. The study of the relationship between gold price and stock price changes can provide some reference for investors to make investment decisions on gold and stock market. The daily closing price of AU9995 gold issued by Shanghai Gold Exchange is used in 2017-2018 as the data of China’s gold price,and the daily closing price of Shanghai Composite Index on the corresponding date is used as the stock data. Both data is to carry out the empirical research on the relationship between gold price and stock price. The results show that there is a negative correlation between Shanghai Composite Index and gold price. From the perspective of long-term development,the price of gold is affected by many factors of external,social and economic environment. In the stock market,the price of gold will show a certain weakening trend. However,at some important time nodes,the stock market and the gold market are also advancing at the same time. In the future,individual investors need to pay attention to the relationship between the stock market and the price fluctuation of the gold market,pay attention to the price trend of the gold market in the stock market downturn,and optimize the allocation of funds.
作者
张乖利
ZHANG Guai-li(School of Finance and Economics,Guangdong AIB Polytechnic,Guangzhou Guangdong 510507,China)
出处
《技术经济与管理研究》
北大核心
2020年第5期87-91,共5页
Journal of Technical Economics & Management
基金
广东省教育厅普通高校创新团队项目(2017GWCXTD002)
“同伴互助”卓越教学科研创新团队,广东农工商职业技术学院学术创新团队项目(2017年9月)。
