Abstract
Due to its potential for reliably anticipating gold prices, machine learning for gold price prediction has become a hot study topic in recent years, which is essential for investors and policymakers. This research did a comprehensive survey and experiments on various machine learning algorithms, such as linear regression, support vector machines, decision trees, gaussian process regression, random forest regression, polynomial features, lasso regression, k-nearest neighbor, ridge regression and neural networks, to gold price prediction. These models have been able to provide accurate predictions of gold prices, often outperforming traditional statistical methods. However, the quality of the input data and the model selection procedure affect how accurate these models are. Comprehensive experimental results showed that the support vector machine algorithm achieved the most accurate predictions, with the lowest error rates and the best R2 score.
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The authors would like to thank Eastern International University (EIU) Vietnam for funding this research.
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Nguyen, D.M.T., Debnath, N.C., Quach, LD., Nguyen, V.D. (2023). Machine Learning Algorithms for Gold Price Prediction. In: Hassanien, A., Rizk, R.Y., Pamucar, D., Darwish, A., Chang, KC. (eds) Proceedings of the 9th International Conference on Advanced Intelligent Systems and Informatics 2023. AISI 2023. Lecture Notes on Data Engineering and Communications Technologies, vol 184. Springer, Cham. https://doi.org/10.1007/978-3-031-43247-7_19
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