ABSTRACT
The main objective of the study is to examine the impact of the Covid-19 pandemic and the armed conflict on the level of world gold prices. The specific objective is to examine gold supply and demand during the Covid-19 pandemic and the armed conflict. The research hypothesised that the Covid-19 pandemic and the armed conflict have contributed to the increase in gold prices but have negatively affected the level of gold supply. The implementation of the study objective and verification of the research hypothesis was based on a critical analysis of the source literature and on quantitative research. The quantitative research used dynamic analysis and multiple linear regression analysis.
Based on the research, it is concluded that the pandemic contributed to an increased interest in gold investments. The results of the analysis confirmed that during the health crisis turmoil, investors moved away from intermediate investments in the gold market to investments in physical gold. Slightly different results were obtained when analysing the impact of the military crisis on the gold market. The results of the study indicate that after Russia’s invasion of Ukraine, the supply of gold increased, which in turn was reflected in a decrease in the price of gold.
