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Underlying factors for gold price prediction based on ARIMA models
- 1 School of Computer Science and Technology, Wuxi Taihu University, Jiangsu, 214000, China
* Author to whom correspondence should be addressed.
Abstract
The purpose of this study is to explore the application of ARIMA model and deep learning technology in time series diagram prediction and the comparison of their effects. First, this paper analyzes the time series data in detail and models them using the ARIMA model. The ARIMA model effectively captures the seasonal and trending characteristics of the data through autoregressive, moving average, and differential steps. At the same time, the method of introducing deep learning models based on recurrent neural networks (RNNs), especially long short-term memory networks (LSTMs), to deal with the nonlinear characteristics and long-term dependency of time series data. By comparing and analyzing the performance of the ARIMA model and the deep learning model in terms of prediction accuracy, computational efficiency and model generalization ability, finding that the deep learning model has higher prediction accuracy when processing complex time series data. In addition, this study also uses time series diagrams to visually display the prediction results, which further verifies the advantages of deep learning models in capturing dynamic changes in data. This study provides a new perspective and method for time series data analysis and prediction, and has important practical significance for finance, meteorology, energy and other fields.
Keywords
Gold price, ARIMA model, time series analysis, financial market forecast.
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Cite this article
Gu,Y. (2024). Underlying factors for gold price prediction based on ARIMA models. Applied and Computational Engineering,101,147-153.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of the 2nd International Conference on Machine Learning and Automation
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