Chapter 7. Predicting Gold Prices

In this chapter, you will be introduced to the basic concepts of time series data and regression. First, we distinguish some of the basic concepts such as trend, seasonality, and noise. Then we introduce the historic gold prices time series and also get an overview on how to perform a forecast using kernel ridge regression. Later, we present a regression using the smoothed time series as an input.

This chapter will cover:

• Working with the time series data

• The data – historical gold prices

• Nonlinear regression

• Kernel ridge regression

• Smoothing the gold prices time series

• Predicting in the smoothed time series

• Contrasting the predicted value