Abstract:
Predicting gold prices holds significant importance in the realms of finance and
investment, enabling market participants to make wiser decisions amidst gold price
fluctuations. The training results of the Long Short-Term Memory (LSTM) model
displayed remarkable performance, with a Mean Squared Error (MSE) value of 0.0034
and a Mean Absolute Percentage Error (MAPE) value of 7.13%. According to the MAPE
criterion, this LSTM model's predictive capabilities can be categorized as highly
accurate. These outcomes affirm the potential of the LSTM model in providing precise
gold price predictions, aiding market participants in more informed decision-making. The
forecasted gold prices using LSTM from January 1, 2023, to March 1, 2023, indicate a
daily decrease in gold prices. Consequently, a prudent approach for market participants
would be to engage in future gold purchases during the predicted gold price decrease in
2023.
