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We started with linear regression and changed it to non-linear model based on significance levels of the independent variables, and came up with an equation that can predict gold price. Based on the historical and ongoing trends, we concluded with the suggestion that Gold is still a good investment choice.
Introduction
Gold, one of the most precious metals known to man, was used by many economies as the currency standard due to its rarity, durability, easy divisibility, and the general ease of identification, often in conjunction with silver. Even after silver was no longer basis of currency, gold remained a base global currency until the collapse of the Bretton Woods System in 1971...
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