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.

El presente trabajo de investigación tiene como objetivo analizar los factores internos y externos e identificar su nivel de influencia en el incremento de las exportaciones de la partida arancelara 0306.1711.00, en el marco del Tratado de Libre Comercio entre la Republica del Perú y la República de Corea en los años 2011-2019. Para explicar a mayor detalle el crecimiento de las exportaciones de langostino peruano, se identificaron como factores internos las certificaciones y medidas sanitarias y fitosanitarias. Mientras que los factores externos analizados fueron las variables macroeconómicas, la desgravación arancelaria y los fenómenos climatológicos. Con el fin de lograr los objetivos de la investigación se recabo información relevante a través de fuentes secundaria tales como Scopus, FAO, la OMC, entre otras instituciones publicado-privadas dedicadas a la investigación. Asimismo, como fuentes primarias se realizaron una serie de entrevistas con expertos de SANIPES, la Sociedad Nacional de Acuicultura, de la Oficina Comercial de Perú en Seúl, académicos y empresas en el rubro. Finalmente, en el último capítulo se presentará el factor que tuvo mayor impacto para proceder a analizar el cumplimiento de los objetivos de la investigación y validar las hipótesis. / The purpose of this research is to analyze internal and external factors and identify their level of influence on the increase in exports of tariff heading 0306.1711.00, within the framework of the Free Trade Agreement between the Republic of Peru and the Republic of Korea in the years 2011-2019. To explain in more detail the growth of Peruvian shrimp exports, certifications, sanitary and phytosanitary measures were identified as internal factors. While the external factors analyzed were macroeconomic variables, tariff relief and climatological phenomena. In order to achieve the research objectives, relevant information was collected through secondary sources such as Scopus, FAO, the WTO, among other institutions. published-private dedicated to research. Likewise, as primary sources, a series of interviews were conducted with experts from SANIPES, the National Aquaculture Society, the Commercial Office of Peru in Seoul, academics, and companies in the field. Finally, in the last chapter, the factor that had greater impact to proceed to analyze the accomplishment of the research objectives and validate the hypotheses. / Tesis