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Global Gold Price Forecast Dataset
Stock & Market Data
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About
This dataset provides historical daily gold prices, designed for time series forecasting and analysis. Gold, a prominent commodity and investment asset, has its prices determined by various global factors and is traded on commodity exchanges worldwide. This collection offers a practical real-world scenario for applying and understanding time series analysis techniques, enabling users to predict future gold values based solely on historical price-level information. It is ideal for exploring financial market trends and developing predictive models for commodity prices.
Columns
- Date: This column represents the timestamp for each recorded gold price, indicating the specific day of the observation. It is a DateTime type.
- Price: This column contains the daily price of gold, which is the value to be forecasted. It is a numerical value.
Distribution
The dataset is provided in a CSV format, typical for data files. It is a univariate time series, focusing on a single variable (gold price) over time. The file size is approximately 190.07 kB. It contains 10,800 records (rows) with daily gold pricing information. Specific row/record numbers are available. The data ranges from 1st January 1970 to 13th March 2020.
Usage
This dataset is perfectly suited for a range of analytical and predictive applications, including:
- Time Series Forecasting: Developing and testing models to predict future gold prices.
- Financial Market Analysis: Studying historical gold price trends and identifying patterns.
- Algorithmic Trading Strategies: Informing the development of automated trading systems for commodities.
- Economic Research: Analysing the relationship between gold prices and other economic indicators.
- Educational Purposes: A valuable resource for learning and implementing time series methodologies from basic to advanced techniques.
Coverage
The dataset covers a significant time span from January 1970 to March 2020. While specific geographic coverage isn't explicitly detailed, gold prices are globally determined on commodity exchanges, suggesting a global relevance for the pricing data. No specific demographic scope is applicable as it concerns commodity prices. Data is consistently available across this period, with 10.8k valid records.
License
CC0: Public Domain
Who Can Use It
This dataset is intended for a diverse audience, including:
- Investment Professionals: Analysts from hedge funds, asset managers, and investment banks can utilise it for market forecasting and strategy development.
- Data Scientists & Machine Learning Engineers: Individuals focused on developing and refining time series forecasting models.
- Academics & Students: Researchers and learners interested in financial econometrics, time series analysis, and commodity markets.
- Financial Analysts: For market trend analysis and understanding commodity value fluctuations.
- Enthusiasts: Anyone keen on exploring financial data and predicting market movements.
Dataset Name Suggestions
- Historical Daily Gold Prices
- Gold Market Time Series
- Quandl Gold Price Data
- Global Gold Price Forecast Dataset
- Commodity Gold Prices
Attributes
Original Data Source: Global Gold Price Forecast Dataset
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