2024-05-14 Gold News
2024-05-13
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
Understanding the overall trend of the exchange rates
By examining the dataset closely, it is noted that the XAU exchange rate demonstrates a general declining trend within the timeframe provided. The exchange rate started at 3225.80645 and decreased to 3194.88818 by the end of the period. Therefore, we can classify the overall trend as a decrease.
Inspecting seasonality and patterns
The dataset appears to lack any clear seasonality or recurring patterns. Rather, the exchange rate appears to be fluctuating largely independently of the timing. The data does not indicate any regular peak or trough periods on a daily or hourly basis, hinting at a lack of obvious diurnal or intraday seasonality. This absence could be due to the global nature of gold trading, which tends to result in a smoother and less seasonally-affected pattern.
Examination of outliers
- The first point that stands out is a drop in value to 3225.80645 early in the dataset. This is noteworthy for its deviation from the surrounding values, which could imply an external influence or data error.
- Another point of interest is a dip to 3215.43408 later in the data. Again, this deviation could potentially be due to an external factor not included in the data, or it could indicate a transactional error.
- The decrease to 3205.12821 stands out as well for its deviation from the previous and following rates. As before, this could be the result of a data recording error or an effect of an external event or influence not captured in this dataset.
- Finally, a decrease to 3194.88818 can be seen later in the data. This is noteworthy for its deviation from the immediately preceding and following rates.
These outliers could potentially distort the overall decreasing pattern, and it might be worthwhile to examine these points in more detail or adjust the data to account for these discrepancies.
Final thoughts
The overall trend of the XAU exchange rate, according to the dataset, shows a decline. There is no clear pattern of seasonality or predictable fluctuations in the data. There are, however, a few outliers that deviate from the overall trend and may require further investigation. In order to provide a more accurate and nuanced understanding of the dataset, such investigation should discern the reasons for these irregularities.