Current Forecast of Gold Price
Units: USD per Troy Ounce, Average of Month. Not Seasonally Adjusted.
Solid Line = Actual Values. Dashed Line = Predicted Values.
Forecast Values for Gold Price
How This Forecast is Produced
The forecast of the indicator above is produced using Multichannel Singular Spectrum Analysis, or MSSA.
The forecast is made by using MSSA to decompose the time series into a trend component and many cyclical components. The decomposed components of the time series are then projected forward in time.
The gold prices above are the average of the morning and afternoon gold prices set by the London Bullion Market Association. These prices are known as London Fix.