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Forecasting in management is to assist decision making. It is also described as the process of estimation in unknown future situations. In a more general term it is commonly known as prediction which refers to estimation of time series or longitudinal type data. Gold is a precious yellow commodity once used as money. 41 years ago it was made illegal in USA, but now once again accepted as a potential currency. The demand for this commodity is on the rise. People love gold. People love to own and keep gold. Gold is considered precious. People are always considering owning gold as a better option than paper currency. The reason behind it is that paper currency is a tool these days used by governments and those that influence them to control economies. However, this cannot be done with gold, hence the dropping of the gold standard. A currency will change and can be the subject of manipulation, inflation and depression. So it is crucial to invest in gold for future benefits and in order to be successful in gold investment, one have to master in gold price prediction. This is why the research for gold price forecasting to predict the next value of gold is crucial and important. Based on some research for prediction of gold price, the historic data of gold price as well as the exchange rate can be the most influential factor in determining the next gold price. Applying this knowledge, the inputs for next gold price prediction are mainly its historic gold price value and the exchange rate of world's major currency which are United States Dollar and British Pound. The research methodology to be used and implemented will be discussed further in next chapter.

Item Type: Final Year Project
Academic Subject : Academic Department - Electrical And Electronics - Pervasisve Systems - Analogue Electronics - Yield Analysis
Subject: T Technology > TK Electrical engineering. Electronics Nuclear engineering
Divisions: Engineering > Electrical and Electronic
Depositing User: Users 2053 not found.
Date Deposited: 12 Nov 2013 15:26
Last Modified: 25 Jan 2017 09:41
URI: http://utpedia.utp.edu.my/id/eprint/10495

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