“西金东移”的必然趋势客观要求“西价东移”。中国作为全球最大的黄金生产国、进口国,主要消费国和交易国,正在积极争取应有的国际黄金定价权。为此,本文选取2008年1月9日至2016年6月2日期现货价格数据,并结合平稳性检验、协整检验、方差分解和格兰杰因果检验等方法考察了国内外黄金期现货价格的联动性问题。整体样本的实证检验结果表明,纽约和伦敦黄金价格仍然是上海黄金价格的单向Granger原因。分年度的检验表明,近年来纽约和伦敦黄金价格对上海黄金价格的影响总体呈现出减弱的趋势,上海黄金市场的自主定价权在不断增强。 “West Gold Eastward shift ” the inevitable trend of objective requirements As the largest gold producer, importer, major consumer and trading nation in the world, China is actively seeking the right international gold pricing power. Therefore, this article selects the spot price data from January 9, 2008 to June 2, 2016, and examines the domestic and international gold spot prices by combining the methods of stationary test, cointegration test, variance decomposition and Granger causality test The linkage problem. The empirical test of the whole sample shows that the price of gold in New York and London remains the one-way Granger cause of the Shanghai gold price. The annual inspection shows that in recent years the impact of gold price in New York and London on the gold price in Shanghai shows an overall trend of weakening. The pricing power of Shanghai gold market is constantly increasing.