Forecasting Gold Price: An Application of Auto Regressive Integrated Moving Average Model. Faruk, M. & Hossain, M. International Journal of Applied Mathematics and Statistics™, 58(4):115-121, 2019. abstract bibtex In recent years, the trend of the global gold price has attracted a lot of attention and the price of gold has terrifying spike compared to historical trend. In this paper, an attempt has been made to develop a model for forecasting the gold price. The sample data of gold price (in USD per ounce) were taken from January, 1950 to January, 2018. This paper uses the Box-Jenkin's Auto Regressive Integrated Moving Average (ARIMA) methodology for building the forecasting model. Results advocate that ARIMA(1,1,2)(1,1,2)12 is the most suitable model to be used for predicting the gold price.
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title = {Forecasting Gold Price: An Application of Auto Regressive Integrated Moving Average Model},
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pages = {115-121},
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abstract = {In recent years, the trend of the global gold price has attracted a lot of attention and the price of gold has terrifying spike compared to historical trend. In this paper, an attempt has been made to develop a model for forecasting the gold price. The sample data of gold price (in USD per ounce) were taken from January, 1950 to January, 2018. This paper uses the Box-Jenkin's Auto Regressive Integrated Moving Average (ARIMA) methodology for building the forecasting model. Results advocate that ARIMA(1,1,2)(1,1,2)12 is the most suitable model to be used for predicting the gold price.},
bibtype = {article},
author = {Faruk, M.O. and Hossain, M.M.},
journal = {International Journal of Applied Mathematics and Statistics™},
number = {4}
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