Factors Affecting Gold Price Prediction and the Use of Deep Learning Techniques for Gold Price Prediction

Factors Affecting Gold Price Prediction and the Use of Deep Learning Techniques for Gold Price Prediction

Laor Boongasame
Copyright: © 2023 |Pages: 29
DOI: 10.4018/978-1-6684-5849-5.ch016
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Abstract

“Gold” is a term that refers to a collection of precious metals. Gold's bright, shiny yellow color is its defining characteristic. Due to the availability of sophisticated computational techniques such as generalized auto-regressive conditional heteroskedasticity (GARCH), it is possible to perform a more accurate analysis of gold price expression data using deep learning. In this chapter, techniques for predicting the gold price using deep learning are presented. Also talked about were problems that have come up in the field and possible directions for future work.
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Background

Gold price

The term “gold” refers to a group of precious metals. It is a naturally occurring mineral with a high resistance to chemical reactions. Gold is distinguished by its brilliant and glittering yellow color. It is hard and can be stored to retain its original appearance for an extended period of time. As a result, it is widely used in jewelry and as a capital asset in international reserves. This is in view of the fact that gold is a limited resource, implying that the gold price has the potential for long-term appreciation. Gold is also used to protect against inflation, and it is used in many different industries, such as the electronics industry, the jewelry industry, transportation and communications, medicine and dentistry, and economic stability.

Gold ETF Fund

A mutual fund (Sivalingam, 2016) is a pooling of investors' money for the purpose of investing in accordance with the fund's investment policy, which is determined by the fund's fund manager, who is an expert. The mutual funds' strength is that they allow investors to invest even if their initial investment is small, and they also offer a variety of investment policies. The gold mutual fund is a popular investment vehicle. The Gold ETF (“GOLD ETF,” 2021) is a well-known gold mutual fund that invests in gold-related assets such as gold bars. Investors are not obligated to hold gold bullion assets, which enables investors interested in gold to do so easily and quickly.

The SPDR Fund, or SPDR Gold Shares (“Bringing the gold market to investors,” 2021), is the largest ETF. It invests in gold bullion directly. After deducting expenses and various handling fees, the return is based on the movement of gold prices in the global market. HSB Bank USA will claim control of the gold bullion.

The SPDR Gold Shares Fund is currently registered in four markets: the New York Stock Exchange, the Japanese stock exchange, the Hong Kong stock exchange, and the Singapore stock exchange.

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