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Prediction of Gold Prices Using Multilayer Artificial Neural Networks Method

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  • Yakup SÖYLEMEZ

Abstract

The accurate estimation of financial time series provides both investment opportunities and hedging financial assets to those who take positions in financial markets. In this context, it is extremely important to estimate the price of gold, which is an important investment instrument. The research aims to estimate gold prices with various input variables the day before by using artificial neural networks method. In the study, gold prices between 11.03.2014-10.31.2019 are estimated by multilayer artificial neural networks using variables of Brent oil prices, VIX index, Dow Jones Index and US Dollar index. As a result of the research, there is a model that best estimates (98,44%) gold prices.

Suggested Citation

  • Yakup SÖYLEMEZ, 2020. "Prediction of Gold Prices Using Multilayer Artificial Neural Networks Method," Sosyoekonomi Journal, Sosyoekonomi Society, issue 28(46).
    • Handle: RePEc:sos:sosjrn:200413
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    More about this item

    Keywords

    Artificial Intelligence; Artificial Neural Networks; Financial Investment Instruments; Gold Prices; Time Series Estimation.;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C45 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Neural Networks and Related Topics
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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