This paper is published in Volume-2, Issue-3, 2016
Area
FORECASTING
Author
P .M. Dhanalakshmi
Co-authors
P. R. S. Reddy
Org/Univ
S.V.University,Tirupati,A.P, India
Pub. Date
09 June, 2016
Paper ID
V2I3-1161
Publisher

Citationsacebook

IEEE
P .M. Dhanalakshmi, P. R. S. Reddy. An Analytical Study on Forecasting Model with Special Attention to Gold Price, International Journal of Advance Research, Ideas and Innovations in Technology, www.IJARIIT.com.

APA
P .M. Dhanalakshmi, P. R. S. Reddy (2016). An Analytical Study on Forecasting Model with Special Attention to Gold Price. International Journal of Advance Research, Ideas and Innovations in Technology, 2(3) www.IJARIIT.com.

MLA
P .M. Dhanalakshmi, P. R. S. Reddy. "An Analytical Study on Forecasting Model with Special Attention to Gold Price." International Journal of Advance Research, Ideas and Innovations in Technology 2.3 (2016). www.IJARIIT.com.

Abstract

A commodity with resonance is Gold. Gold is used as currency over the centuries. Gold is unique in nature due to its capability of being hedge in opposition to inflation. It has strong stability to withstand in financial crises and volatility. Although the social esteem that the gold business adds to social orders far and wide, particularly in poorer nations, is less apprehended and frequently distorted. As of late, the worldwide gold cost pattern has pulled in a great deal of consideration and the cost of gold has unnerving spike contrasted with recorded pattern. In times of vulnerability financial specialists consider gold as a fence against unexpected debacles so the fore-casted price of gold has been a subject of most elevated among all. In this research the primary focal area for examination is to add to a determining model for gold price in which this will be done through Box-Jenkins, ARIMA (Auto regressive Integrated Moving Average) and time series analysis model of forecasting. The main objective of this research is to investigate the factors which influencing gold price of the gold market. Data for analysis is collected from variable data sources in order examine the impact and contribution of factors on gold price. Based on identified factors, the gold price will be predicted for upcoming years.
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