Brilliance: Research of Artificial Intelligence
Vol. 4 No. 1 (2024): Brilliance: Research of Artificial Intelligence, Article Research May 2024

The Implementation of Gated Recurrent Unit (GRU) for Gold Price Prediction Using Yahoo Finance Data: A Case Study and Analysis

Sudiatmika, I Putu Gede Abdi (Unknown)
Putra , I Made Agus Widiana (Unknown)
Artana, Wayan Widya (Unknown)



Article Info

Publish Date
03 Jun 2024

Abstract

Gold is a precious metal resistant to corrosion and oxidation, highly valued in investment and trade. Currently, the demand for gold is increasing as it is considered a safe haven. This is evidenced by 48% of respondents out of 2,333 respondents choosing gold as the most preferred investment, based on a survey conducted by Jakpat. However, gold actually has a fluctuating price. The fluctuating price of gold worldwide is influenced by many factors such as economic conditions, inflation rate, supply and demand of gold, and the US dollar exchange rate. Therefore, there is a need for a prediction that can estimate the price of gold based on the movement of gold prices in previous periods. In this study, an evaluation of the performance of GRU for predicting the price of gold will be conducted.. The research methodology includes data collection and processing of gold prices, application of the GRU model, and evaluation of model performance with evaluation metrics such as Mean Squared Error (MSE) and Mean Absolute Error (MAE). Gold price data is taken from Yahoo Finance from December 14, 2017, to March 14, 2024, and processed through normalization and data splitting into training and testing sets. The results of the study show that the GRU model is able to predict gold prices with an adequate level of accuracy. Based on the MSE and MAE values, the combination that provides the best performance is a batch size of 64 with 100 epochs, as it yields the lowest MSE and MAE.

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Journal Info

Abbrev

brilliance

Publisher

Subject

Decision Sciences, Operations Research & Management Mathematics Other

Description

Brilliance: Research of Artificial Intelligence is The Scientific Journal. Brilliance is published twice in one year, namely in February, May and November. Brilliance aims to promote research in the field of Informatics Engineering which focuses on publishing quality papers about the latest ...