Prediction of Gold Stock Market Using Hybrid Approach

Abstract

Presently, stock market is the most important part of economy of the country and acts as key driver for its growth. Since gold is oldest form of currency, it drives more attention of people to invest in gold stock market. As we know stock market is volatile in nature and risk inevitable. To maximize profit, we need a model which predicts stock in upcoming future. A lot of data have to be dealt for précised prediction, and machine learning will be faultless. This paper uses artificial neural network (ANN) for predicting the fluctuation in gold price. It takes historical data and predicts the price for next day. The aim was to build a model which forecasts price with maximum precision and also helps user to maximize their profit. Model has achieved success but forecasting gold stock market prices is highly complicated and depends on series of events such as festival, political event, and marriage seasons. They also depend on other commodities like Sensex, Nifty, crude oil, and so on. Model will not be capable of taking these events into account as they fall randomly, but people who regularly invest in stock market can give better advice.