The Factors determining the gold demand in North Lebanon

Abstract

We will carry out the task of understanding the factors that determine the gold demand in Lebanon. This research has never been previously conducted in Lebanon. We will explore the values that Lebanese consumers hold regarding gold, whether gold is a luxury or common good, how consumption is affected by the price, and whether people will turn to substitutes as a result of the change in price. We will interact with gold purchasers and sellers and consider their perspectives. We will consider variables such as religion, income, education, age, and gender. Hypotheses will be stated and tested throughout the process. Some people claim that they will stop purchasing gold whereas others firmly believe that they will not be affected by the change in price. Ultimately, not all people will respond in the same way since they are influenced differently by several distinct variables in an unfavorable economic environment they have no control over.