2024-05-07 Gold News
2024-05-06
Summary of Last Month
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
1. Overall Trend Analysis
The overall trend from the data set provided seems to suggest that the exchange rate is relatively stable with minor fluctuations. Specifically, it fluctuates between 3164.55696 and 3174.60317 for the most part. The exchange rate went up to 3184.71338 a few times but then returned to the previous levels. This gives the impression that while there are certainly fluctuations in the exchange rate, the changes are relatively minor and the rate mostly stays within the specified range.
2. Seasonality or Recurring Patterns in Exchange Rates
No strong seasonality or predictably recurring patterns were detected in the provided dataset. The exchange rates seem to fluctuate within a stable range regardless of the time. We might need a more extended data set that spans multiple months or years to clearly identify any seasonality, weekly or yearly patterns in the data.
3. Notable Instances and Outliers
Looking at the given data, the instances where the exchange rate reaches 3184.71338 can be considered outliers. These spikes are relatively rare compared to the otherwise stagnated rates between 3164.55696 and 3174.60317. However, these outlier values are not excessively different from the common values to cause drastic changes for analysis. It is also important to notice that despite these few spikes, the exchange rate corrects itself to the common range swiftly.
Based on the provided data, while the exchange rate shows minor fluctuations, it remains relatively stable. This continuous stability might suggest that the conditions affecting the rate are quite constant during the given timeframe. However, more data such as extended time series data, other economic indicators or financial news could provide a more comprehensive picture of the factors influencing these rates.