Modelling SVM and Prediction of Gold Price Based on Quotient Space

Xu HAN; Shan YANG; Ximei WANG

doi:10.11872/j.issn.1005-2518.2020.01.067

Gold Science and Technology >

2020 , Vol. 28 >Issue 1: 148 - 157

DOI: https://doi.org/10.11872/j.issn.1005-2518.2020.01.067

Mining Technology and Mine Management

Modelling SVM and Prediction of Gold Price Based on Quotient Space

Xu HAN ,
Shan YANG ,
Ximei WANG

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School of Resources and Safety Engineering，Central South University，Changsha 410083，Hunan，China

Received date: 2019-06-05

Revised date: 2019-11-14

Online published: 2020-02-26

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Highlights

Based on the detailed analysis of the influencing factors of the gold price，the gold price of China was predicted according to the price factor of gold price combined with the quotient space theory and the support vector machine method.Firstly，we used the person correlation coefficient method to compare the correlation between 9 price factors with gold price in the current.Five price factors with larger correlation coefficient were selected，they are US dollar index，WIT crude oil futures，G5 currency index，producer index，consumer index and correlation coefficient with correlation coefficient of -0.46，0.52，0.5，0.59 and 0.55 respectively.Secondly，through the granger causality test，we got the reason that the commodity index and the consumer price of the index lead to the change of the gold price hypotheses are more likely to be established，the odds are 0.83338 and 0.95609 respectively.Then，using the dollar index，the WIT crude oil futures，the G5 currency index，the producer index，the consumer index，the commodity index and the consumer price index as the main price factors for the forecast，combining with the quotient space theory and according to the time attribute，divided the gold price domain into three divisions of year，quarter and month，then established the three-tier quotient space，and conducted the granularity of the synthesis and calculation.The SVM forecasting model based on the quotient space theory was established to forecast the gold price.The forecast value of the gold price for year，quarter and month granularity is 8 122.4 CNY/troy ounce，7 947.506 CNY/troy ounce and 8 089.5 CNY/troy ounce respectively，and the composite result is 8 053.1 CNY/troy ounce.Finally，the reliability of the model is verified by comparing the gold price forecast with the GM（1，1） forecast of 9 382.2 CNY/troy ounce and the actual gold price of 8 306.0 CNY/troy ounce，indicate that the prediction result of the model is within the range allowed by the error，and the model is superior to traditional price prediction methods..

Cite this article

Xu HAN , Shan YANG , Ximei WANG . Modelling SVM and Prediction of Gold Price Based on Quotient Space[J]. Gold Science and Technology, 2020 , 28(1) : 148 -157 . DOI: 10.11872/j.issn.1005-2518.2020.01.067

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