[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-571148-105":53,"doc-detail-571148-en":127},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":120,"head_meta":122,"extra_data":124,"updated_unix":126},105,"en","price-dynamics-of-gold-and-silver-in-the-period-2015-2023-paper","PRICE DYNAMICS OF GOLD AND SILVER IN THE PERIOD 2015-2023 - Paper","","The paper maps price development of selected metal commodities—gold and silver—from 1 January 2015 to 1 January 2023, assessing whether the COVID-19 pandemic influenced their trajectories and whether a linear relationship exists between their prices. Correlation analysis tests the validity of the relationship between gold and silver prices. Granger causality confirms a statistically significant predictive linkage between past prices. Prices increase over the period, following a similar pattern, with gold rising from CZK 877.19/g to CZK 1,327/g and silver from CZK 11.64/g to CZK 17.43/g. The study notes limitations from COVID-19 and the war in Ukraine, which may affect results.",{"@graph":63,"@context":119},[64,80,102],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/price-dynamics-of-gold-and-silver-in-the-period-2015-2023-paper/571148/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/price-dynamics-of-gold-and-silver-in-the-period-2015-2023-paper/571148.png","ImageObject",442,249,{"name":88,"@type":89},"Mimi","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-24","2026-10-13",true,{"@type":98,"interactionType":99,"userInteractionCount":101},"InteractionCounter",{"@type":100},"ViewAction",7,{"@type":103,"mainEntity":104},"FAQPage",[105,111,115],{"name":106,"@type":107,"acceptedAnswer":108},"What is the main objective of the study?","Question",{"text":109,"@type":110},"To map the development of gold and silver prices from 1 January 2015 to 1 January 2023, evaluate whether COVID-19 affected prices, and test whether a linear relationship exists between their prices.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"How is the relationship between gold and silver prices tested?",{"text":114,"@type":110},"Correlation analysis is used to examine the relationship, and Granger causality is applied to confirm whether past gold and silver prices have statistically significant predictive value for future prices.",{"name":116,"@type":107,"acceptedAnswer":117},"What impact does the COVID-19 pandemic show in the results?",{"text":118,"@type":110},"The paper concludes COVID-19 had a positive effect on both commodities, with prices increasing significantly over the period, especially for gold, which can function as an investment metal during economic crises.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},571148,1792093278,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":73},2336477974920,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","PRICE DYNAMICS OF GOLD AND SILVER IN THE PERIOD 2015-2023  \naNIKOLA KOVÁČIKOVÁ, bVILÉM KOVAČ, cSVATOPLUK JANEK  \na Institute of Technology and Business in České Budějovice, Okružní 517/10, 370 01 České Budějovice, Czech Republic; Email: a[kovacikova@znalcivste.cz](kovacikova@znalcivste.cz) b[kovac@znalcivste.cz](kovac@znalcivste.cz)[ ](kovac@znalcivste.cz)[c](cjanek@znalcivste.cz)[janek@znalcivste.cz](cjanek@znalcivste.cz)  \nAbstract: The aim of this paper was to map the price development of selected metal commodities -gold and silver from 1 January 2015 to 1 January 2023, to determine whether the COVID-19 pandemic had an impact on their price development and whether there is a linear relationship between the prices of these commodities. The validity of the correlation between the prices of gold and silver was examined using correlation analysis. Granger causality confirmed a statistically significant relationship between past gold and silver prices, indicating their mutual predictive value for future prices. The price data was obtained by content analysis and evaluated by graphical analysis. During the period under review, the price of both commodities increased, and the curves of both commodities followed a similar pattern. The gold price evolved from the original value of CZK 877.19/g to the price quoted on 1 January 2023, which was CZK 1,327/g. The price of silver also saw a price development, from CZK 11.64/g to CZK 17.43/g. From an investment point of view, the COVID-19 pandemic had a positive effect on both commodities, as prices increased significantly, especially for gold, which can serve as an investment metal in times of economic crises. The biggest limitation of the work were events such as the COVID-19 and the war in Ukraine, which influenced the price development of both commodities and thus could have affected the results of the research.  \nKeywords: Gold, silver, correlation analysis, price development, COVID-19 pandemic.  \n1 Introduction  \nCommodities have long been considered an outsider in the investment world, often for a good reason. Unlike shares, commodities do not offer the so-called market´s beta. In contrast, they represent a set of unique price returns reflecting the underlying dynamics of supply and demand for tangible assets that serve as a building block of the global economy [1] . The literature describes a significant relationship between commodity prices and their futures and macroeconomic variables, which indicates the important role commodities play in the real economy [2] . Commodity futures contracts originated as a form of agricultural insurance and were primarily used for the stabilization of commodity prices [3] . Generally, the actual price of globally traded commodities is determined by supply and demand. One of the major factors determining the actual price of commodities is changes in demand for commodities associated with unexpected fluctuations in global real economic activity [4] . Given that the supply of commodities is vital to modern society, fluctuations in commodity prices can significantly affect the functioning and sustainable development of macroeconomy, manufacturing activities, and people´s safety and well-being. The commodity market also plays a key role in international industrial chain and sustainable development [5] . Price jumps in commodity markets are rare and extreme events occur less often than in stock markets. However, the correlation of jumps between commodities can be high depending on the commodity sectors. Energy, metal, and grain commodities show high jump correlations [6] . The global spread of the COVID-19 epidemic caused upheaval in the world financial system, prompting an urgent need to reassess gold as a secure haven for finances [7] .  \nThe objective of the paper is to map the development of selected metal commodity prices, specifically, gold and silver, in the period 1 January 2015 – 1 January 2023, to determine possible impact of the COVID-19 pand","cbCaigLlDL4TDGZx","https://ap.wps.com/l/cbCaigLlDL4TDGZx","pdf",523930,6,"English","# Introduction\n## Literary research","[{\"question\":\"What is the main objective of the study?\",\"answer\":\"To map the development of gold and silver prices from 1 January 2015 to 1 January 2023, evaluate whether COVID-19 affected prices, and test whether a linear relationship exists between their prices.\"},{\"question\":\"How is the relationship between gold and silver prices tested?\",\"answer\":\"Correlation analysis is used to examine the relationship, and Granger causality is applied to confirm whether past gold and silver prices have statistically significant predictive value for future prices.\"},{\"question\":\"What impact does the COVID-19 pandemic show in the results?\",\"answer\":\"The paper concludes COVID-19 had a positive effect on both commodities, with prices increasing significantly over the period, especially for gold, which can function as an investment metal during economic crises.\"}]","PRICE DYNAMICS OF GOLD AND SILVER IN THE PERIOD 2015-2023 - Paper | PDF",1791895768]