英國卡蒂夫大學金融經濟學留學生碩士畢業dissertation范文-Can portfolio/asset models explain the rise in the price of gold?

dissertation題目：Can portfolio/asset models explain the rise in the price of gold?
dissertation語種：英文
您的研究方向：Finance Economics
是否有數據處理要求：是
您的國家：英國
您的學校背景：Cardiff University;導師很嚴謹但沒有提供更多的參考資料；按timetable完成相應部分dissertation給他看
要求字數：12000-15000
dissertation用途：碩士畢業dissertation Master Degree
是否需要盲審（博士或碩士生有這個需要）：否

October 30, 2002, the Shanghai Gold Exchange was officially opened (AsiaPulse News, 2003), China's gold market gradually moves towards open. In 2004, People's Bank of China Governor Zhou Xiaochuan http://www.400190.com/ygsslwdx/ at the London Bullion Market Association (LBMA) annual meeting held in Shanghai pointed out the three changes for China gold market (Zhou, 2004): First, the realization of the commodity-based trading to the financial transactions in China gold market; second, the realization of the Chinese gold market dominated by the spot transaction-based for the changes to the futures transaction; third, the realization of China gold market from the domestic market to international market changes. On January 9, 2008, gold future was officially traded on the Shanghai Futures Exchange (Free Paper, 2010). China has less than a decade of the gold market, the formation of gold futures market was also less than three years.

The formation of the world's gold market has been there for hundreds of years of history, gold future is a global linkage of trading market, and its largest trading market is in New York of the United States, followed in Japan and London. American CEM Group (Chicago Mercantile Exchange Group) in 2009 integrated COMEX products with NYMEX products to become the world's largest and most diverse derivatives exchange. September 15, 2008 the CME futures price of gold due to October 2008 was 878.5 U.S. dollars / ounce, gold spot price in China that day was 178.05 yuan / gram, to August 9, 2010 the CME futures price of gold due to August 2010 was 1214.9 U.S. dollars / ounce, the gold spot price in China that day was 259 yuan / gram (Xinhua, 2011). In less than two years time, CME futures price of gold rose 38.2%, the gold spot price in China rose 45.5%. Since the financial crisis, the role of gold as a safe-haven is also increasingly evident, and the gold spot price in China also shows an overall upward trend with the gold price fluctuations in the world.#p#分頁標題#e#

Since 2008, the world gold price there is a greater volatility, China is no exception. Because of the early formation of U.S. gold market and the more mature development, so the CME futures price volatility has a strong influence on the global gold price of gold, so the gold spot price in China is also affected by the fluctuations of CME futures prices of gold. China has become the power country of gold supply and demand, so the gold price formation mechanism is worth studying. July 22, 2010, six ministries jointly issued the "Opinions on the Promotion of Development of the Gold Market", which proposed views to promote the healthy development of the gold market, further improve the financial market system, to play the important role of the gold market in the development of promoting the gold industry (China Gold Market Report 2010). Chinese gold market is an important part of the financial market, but compared to the United Kingdom, the United States and Japan with nearly four decades of the development process of the gold futures http://www.400190.com/ygsslwdx/ market, the gold futures market in China is still in its infancy. As the gold related to national financial security, and is the excellent investment tool, thus as the representative of CME futures price of gold on the China's transmission of gold spot price and its transmission mechanism deserves further research.

Whether it is the country's macro-control, or general investor behavior, needs the prediction of the price of gold, thereby effectively expands the economic activities and investment activities (Ewing, Hammoudeh and Thompson, 2006). Since from the gold investment, gold price forecast has been the interests by the majority of scholars and enthusiasts, which not only is of great theoretical significance, but also there is a wide range of practical application value.