2024-05-13 Gold News
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2024-05-12
Summary of Last Week
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Data Analysis Method
The method I used for this analysis involves reading the timeseries data, converting timestamps into datetime objects for chronological analysis, and producing descriptive statistics of the data. This presented information on the central tendency, dispersion and shape of the dataset’s distribution. Then, a line graph was plotted for visualization and better understanding of the value trends. Seasonality was identified using decomposition. Lastly, a box plot was used to identify potential outliers.
Overall Trend of Exchange Rates
There seems to be a slight fluctuation in the exchange rates indicating volatility in the XAU currency. The highest exchange rate noted over this period is approximately 3344 and the lowest exchange rate noted is about 3144. Overall, the exchange rates have seen a moderate increase and decrease over the provided timespan, however, they tend to revert around a mean, indicating stability in the long term. More detailed analysis can be provided with more data or over a longer time period.
Seasonality or Recurring Patterns in Exchange Rates
From the decomposition, it can be inferred that there are no clear seasonalities or recurring patterns in the changes of exchange rates. The exchange rates rather appear to be influenced by irregular or random fluctuations which could be due to market factors.
Outliers
From the box plot, it can be observed that there are no significant outliers in the dataset. This indicates that there are no instances where the exchange rate differs significantly from what would be expected based on the trend or seasonality.
Conclusion
The general stability in the currency exchange rates with mild fluctuations indicates a relatively volatile market environment. The absence of clear seasonality indicates that these rates likely do not have a predictable cycle. Furthermore, the absence of distinct outliers suggests a lack of significant external shocks during this period.
![XAU Exchange Rates Experience a Roller Coaster Ride through April](http://currencymart.net/images/news/gold/2024-05-13/img-VLxrBB4K75qyvOrNkc8yltir.webp)