Abstract:
Gold price prediction is very essential for investment in gold market. Gold is an
important economical factor for a developing country like Bangladesh. It is a precious
material and Bangladesh is a traditional country where everyone uses gold mainly for
jewelry. So, the demand of gold is endless. Our people use to invest in gold because its
price is continuously changing. So that it takes a strong position in our national
economy. There are so many factors that influence gold price such as Global Gold
Market, United States Currency Rate and Geopolitical Risks. We are facing a pandemic
of Covid-19 which affected the gold market worldwide. US currency have been a major
factor for gold rate movement for many years. In this research we have been used daily
USD value in BDT and Silver price from January 2015 to September 2021 as two main
factors for predicting gold price. In this work we tried to implementsupervised machine
learning algorithms such as Random Forest Regression, KNN, Decision Tree
Classifier, Logistic Regression, and Multinomial NB to find out appropriate algorithm
for our work. We have compared all these algorithms in our study. From this study,
Random Forest Regression performed best among all other algorithms.
