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Analysis and Influences of Fundamental news on Gold Prices
Kubaštová, Magdaléna ; Fičura, Milan (advisor) ; Galuška, Jiří (referee)
This master thesis, Analysis and Influences of Fundamental news on Gold Prices deals with macroeconomic variables that drive the price of gold. This paper is divided into three chapters: Possible investment forms in gold, Fundamental analysis of commodities, and lastly Analysis of impact of strong economies and their influence on gold prices. In the first chapter, emphasis is put on the Efficient Market Theory that plays an important role in success or failure of investment strategies such as technical and fundamental analysis. The second chapter illustrates the Commitment of Traders (COT) report and how it is used as a tool to predict the movement of gold prices. This chapter also discusses other large drivers effecting gold prices such as financial and geopolitical stability, inflation, interest rates, Central Banking operations, the value of the US dollar, and other influences. The final chapter analyzes the impact of announced fundamental news in the United States, China, and Europe on the price of gold. The empirical part of this paper analysis the impact of announced fundamental news in United States, China and Europe on gold prices. With the use of the linear regression method, we can test whether the macroeconomic variables significantly influence the return on gold investments immediately after their announcement, or over long periods of time. If this new public data was calculated into gold prices directly, investors would not be able to achieve additional returns by using fundamental analysis. The major findings are summed up at the end of the last chapter.
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Fundamental analysis of a share of Pegas Nonwovens
Pečonka, David ; Veselá, Jitka (advisor) ; Derner, Tomáš (referee)
The topic of my bachelor thesis is the fundamental analysis of a share of Pegas Nonwovens company. It consists of three parts: the first (global) part examines how major macroeconomic variables (interest rate, inflation, money supply, GDP) influence share prices. The second chapter describes characteristic factors of nonwovens industry which may also affect analyzed share. It's for example cyclicality of the business cycle or competitive environment. At the third, lowest level the corporate fundamentals are introduced. Using various models, I calculate the intrinsic value and in comparison with the market price I determine the valuation of shares. The aim should be the formulation of investment recommendation to buy or sell Pegas shares.
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Gold price analysis
Kushnir, Glib ; Drozen, František (advisor) ; Šípek, Ladislav (referee)
The aim of this thesis is to identify the main factors that most affect the market value of gold. The work is divided into four chapters. The first chapter describes the change in the method of gold using from antiquity to the present, then the reader is familiar with the current state of the gold market. The third chapter focuses on ways of investing in gold. It is divided into two parts: direct and indirect forms of investment. The last chapter based on fundamental analysis analyzed the correlation of basic macroeconomic data and gold prices.
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Vliv makroekonomických veličin na výši předepsaného pojistného ve vybraných státech EU
Lefká, Ivana
Lefká, I. The influence of macroeconomic indicators on the amount of written premiums in selected EU countries. Diploma thesis. Brno, 2013. The aim of this thesis is to identify macroeconomic variables that affect the amount of written premiums in selected EU countries - the Czech Republic, Germany, Austria and the Slovak Republic. For each country is developed an econometric model that explains the dependence of written premiums to GDP, inflation, unemployment rate and the average wage, following by an economic, statistical and econometric model verification. The data used was obtained from the Sigma statistics of reinsurance company Swiss Re, the European (re)insurance federation (Insurance Europe), the World Bank, the Statistical Office of the European Union (Eurostat), the United Nations Economic Commission for Europe (UNECE) and other expert sources.
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Economic growth determinants in Czech Republik
ČÍŽKOVÁ, Zdeňka
Main aim of the bachelor dissertation was to define main determinants of economic growth in Czech Republic. For total economic status consideration was examined macroeconomic values development from 2000, in particular then GDP, trade balance or inflation. By means of regressions and correlation was found, that among the main economic growth determinants especially belong gross fixed capital creation, balance of trade, employment (unemployment) or average interest rate.
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