Kovid-19 Pandemisinin Altın Fiyatlarına Etkisi: ARDL Analizi.

Covid-19 Pandemic or in other words this century's black death affects deeply on health sector at the same time financial markets. İn this study it has been examined whether there is significant relationship between gold prices and Covid-19 by ARDL modelling with using daily data 22.01.-08.04.2020. It has been identified gold prices as dependent variable, total Covid-19 cases in the world, total Covid-19 cases in Turkey, exchanges rate (US Dolar), Turkey political interest rate, gasoline prices on pump as independent variables in the model. In the frame of the ARDL model is applied due staiblity of selected variables at different levels, it has consisted within the findings of the short term and long term. According to the error correction model results, the long-term capture rate of the model is 51 percent. Gold is the most known and traditional financial instrument that can be observed how investors develop behavior in situations that cause global panic to financial instruments.According to empirical findings, there are negative effects on gold prices with exchanges rate and Turkey political interest rate, moreover there are positive relationships between gold prices and gasoline prices on pump, total Covid-19 cases in the World, total Covid-19 cases in Turkey's lags and gold prices lags in the short run. İn the long run there are cointegrated relationships between gold prices and all variables except total Covid-19 cases in Turkey. [ABSTRACT FROM AUTHOR]