Prediction of Gold Prices Using Artificial Neural Networks

Year 2017, Volume: 9 Issue: 3, 83 - 89, 26.12.2017

Kemal Adem

https://doi.org/10.29137/umagd.350596

Cited By: 1

Abstract

Gold,
which has fulfilled the functions that money has in the past years, is now
mostly used as a means of saving. Gold has been an investment instrument for
Turkish society for many years. In addition, it is perceived as the most
reliable means of investment by people in times of crisis and war. It is very
important to estimate gold prices for investors who want to earn high profits
from their investments. In this study, as input (independent variables), the
data set consisting of Brent oil price, USD price, BIST100 index, Central Bank
of the Republic of Turkey weekly interest rate, silver and copper prices was
applied to the price of gold in ounce by applying Multi-Layer Perceptron Neural
Network (MLPNN) is intended to be estimated. As the data set, weekly price and
index values were used between January 2010 and December 2016 period. As a
result of the study, suggestions were made about the effectiveness of gold on
the input variables created by using MLPNN.

Keywords

Investment, Gold prices, Prediction

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