2024-05-15 Gold News
![Currency mart logo](../../../images/blog/currency-mart-logo.png)
2024-05-14
Summary of Yesterday
- 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
After a thorough examination of the data provided, it is observed that the general trend of the XAU exchange rate is nearly constant for the almost entire length of the timeline, with three distinct exchange rates values being prevalent, namely 3205.12821, 3194.88818, and 3215.43408. There is also a small period where the XAU exchange rate peaked to 3225.80645. It can be noted that there is a decrease from XAU 3205.12821 to 3194.88818, after which it increases gradually, peaking at 3225.80645, and then stabilizing again at 3215.43408. Thus the trend is such that it remains relatively stable with minor fluctuations.
Seasonality or recurring patterns
In terms of seasonality or recurring patterns, it is difficult to identify any clear patterns. Since the exchange rates are nearly constant for most of the timeline, no direct correlation between the time of the year or month and the exchange rate can be drawn from this dataset. No noticeable changes during specific hours of the day are evident, indicating no intraday patterns. Therefore, no distinct seasonal trends or patterns can be inferred from this data.
Outliers and significant deviations
Regarding outliers or instances where the exchange rate differs significantly from the expected trend, the few instances where the XAU rate peaks to 3225.80645 could be considered as possible outliers. These instances do not seem to fit the generally steady trend of the data but these incidents are few and don't significantly alter the average XAU exchange rate. Therefore, these can be considered as minor deviations but not significant enough to be classified as outliers.
![Gold Exchange Rate Stays Steady Before Jumping to New Highs](http://currencymart.net/images/news/gold/2024-05-15/img-t08lNqZdVFG4QCW1fl0IYgjw.webp)