Master of Science in Economics

Faculty / School

Faculty of Business Administration (FBA)


Department of Economics

Date of Submission



Dr. Asma Hyder, Institute of Business Administration, Karachi

Project Type

MSECO Research Project

Access Type

Restricted Access

JEL Code

E52, C01, C32, E4, E5


The main aim of this paper is to find the relationship between gold and silver prices with other independent variables. We collected the yearly secondary time series data between the period 1971 to 2020. The dependent variable is silver prices. We run the ARDL co-integration test to check the long-run as well as the short-run relationship between dependent and independent variables. We found that, gold prices have a positive impact on silver prices in both short and long run. In short run, the coefficient value of GOLDP is greater than the long run coefficient value. The positive sign of inflation in both short and long term indicates that, people will prefer to buy silver and less likely to hold cash due to devaluation of money.


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