Context
As you all know that, as per the observation of economists, according to the current trend, it seems that the yellow metal is performing better as an investment option in comparison to mutual funds, equities, real estate, and fixed deposits. The weak global economic outlook for the entire year is might be the reason why gold prices are surging. The yellow metal is considered as a financial instrument that does not erode in valuation during periods of economic turbulence. Many global investors are looking for safer investment options including gold as fears over a recession continue to grow.
Therefore here, need to forecast the price of the Gold in the future based on trend or seasonality using historical data from Jan 2006 to Sep 2020. The historical data has from Jan 2006 to Sep 2020.
Problem
To Predict or forecast the gold price in the near future. Hence, it would help Indian people aware of when to buy gold for their investments.
Data
The data contains the following fields,
Date,
Country,
State,
City,
Pure Gold (24 k), Priced indicated in INR
Standard Gold (22 k), Priced indicated in INR
The dataset will be updated soon for other states as well in India.
Acknowledgements
The dataset has scraped from www.livechennai.com. Gold Prices indicated in this data makes no guarantee or warranty on the accuracy or completeness of the data provided.