Simulation of Gold Price for the First 20 Years in the 21st Century with Random Walk Model

Abstract

Whether or not a stock index can be interpreted by the random walk model is important but debatable because it is closely linked to the weak form of the efficient market hypothesis (EMH). As an important commodity, a precious metal, and the reserve in central banks, the gold price is the objective of numerous studies. The issue of whether the gold price is subject to the weak form of EMH is interesting and important. Although the gold price is the oldest recorded price in human history, we select the first 20 years in the 21 st century for this report to be consistent with our previous studies. In this report, the random walk model was used to simulate the gold daily close price because this task was previously approached using statistical tests. Our focus concentrates on the simulation in the decimal configuration, and the results show that the simulation becomes worse with increase of the number of years involved in simulation.

Scientometric Review and Thematic Areas for the Research Trends on Marine Hoses

“…As seen in Figure 4, it was observed that the highest generated publications were 19 publications in 2020, followed by 14 publications in 2014 and 2016, then 13 documents in 2019, and 12 documents in 2021. However, there are limited publications found on the installation of marine hoses [160][161][162][163][164][165][166][167][168][169][170] compared to other marine systems [171][172][173][174][175][176][177][178][179][180].…”

“…As seen in Figure 4, it was observed that the highest generated publications were 19 publications in 2020, followed by 14 publications in 2014 and 2016, then 13 documents in 2019, and 12 documents in 2021. However, there are limited publications found on the installation of marine hoses [160][161][162][163][164][165][166][167][168][169][170] compared to other marine systems [171][172][173][174][175][176][177][178][179][180]. As observed in Figure 5a, the highest publications by subject area were in engineering, with 212 publications (42.7%), energy, with 99 publications (19.9%), earth and planetary sciences, with 46 publications (9.3%), environmental science with 23 publications (7.4%), chemical engineering with 23 publications (4.6%), materials science with 21 publications (4.2%), and agricultural and biological sciences with 16 publications (3.2%), among other subject areas.…”