GOLD PRICE FORECASTING: A NOVEL APPROACH BASED ON TEXT MINING AND BIG-DATA-DRIVEN MODEL

Saeed KIAN Poor, Shahram Fattahi and Mohsen Hajian
Additional contact information
Saeed KIAN Poor: Faculty of Economics, Payame Noor University, Tehran, Iran
Shahram Fattahi: Faculty of Economics, Razi University, Kermanshah, Iran
Mohsen Hajian: Faculty of Economics, Payame Noor University, Tehran, Iran

Studies in Business and Economics, 2024, vol. 19, issue 3, 156-171

Abstract: This work uses Google Trends and online text mining to test a novel approach to gold price prediction. To explain the gold price prognosis, the convolutional neural network (CNN) also uses linguistic criteria for news items about gold. The findings of this study can be used to explain the theoretical underpinnings of information processing worldwide. According to experimental findings, big data forecasting and online data mining are more efficient than other methods. As a result, utilizing 19926 in sum news headlines acquired, the synergistic connection between news items and Google Trends is successful in accurately projecting the price of gold.

Keywords: gold price Prediction; Trends; Online News; Data Mining; CNN (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://magazines.ulbsibiu.ro/eccsf/RePEc/blg/journl/19309kian.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:blg:journl:v:19:y:2024:i:3:p:156-171

Access Statistics for this article

More articles in Studies in Business and Economics from Lucian Blaga University of Sibiu, Faculty of Economic Sciences Lucian Blaga University of Sibiu, Faculty of Economic Sciences Dumbravii Avenue, No 17, postal code 550324, Sibiu, Romania. Contact information at EDIRC.
Bibliographic data for series maintained by Mihaela Herciu ().