• Title/Summary/Keyword: Gold future price

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PREDICTION OF U.S. GOLD FUTURES PRICES USING WAVELET ANALYSIS; A STUDY ON DEEP LEARNING MODELS

  • LEE, Donghui;KIM, Donghyun;YOON, Ji-Hun
    • Journal of applied mathematics & informatics
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    • v.39 no.1_2
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    • pp.239-249
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    • 2021
  • This study attempts to predict the price of gold futures, a real financial product, using ARIMA and LSTM. The wavelet analysis was applied to the data to predict the price of gold futures through LSTM and ARIMA. As results, it is confirmed that the prediction performance of the existing model of predict was improved. the case of predict of price of gold futures, we confirmed that the use of a deep learning model that is not affected by the non-stationary series data is suitable and the possibility of improving the accuracy of prediction through wavelet analysis.

Gold Recovery Using Inherently Conducting Polymer Coated Textiles

  • Tsekouras, George;Ralph, Stephen F.;Price, William E.;Wallace, Gordon G.
    • Fibers and Polymers
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    • v.5 no.1
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    • pp.1-5
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    • 2004
  • The ability of inherently conducting polymer (ICP) coated textiles to recover gold metal from aqueous solutions containing $[AuCl_4]^-$ was investigated. Nylon-lycra, nylon, acrylic, polyester and cotton were coated with a layer of polypyrrole (PPy) doped with 1,5-naphthalenedisulfonic acid (NDSA), 2-anthraquinonesulfonic acid (AQSA) or p-toluenesulfonic acid (pTS). Textiles coated with polyaniline (PAn) doped with chloride were also used. The highest gold capacity was displayed by PPy/NDSA/nylon-lycra, which exhibited a capacity of 115 mgAu/g coated textile, or 9700 mgAu/g polymer. Varying the underlying textile substrate or the ICP coating had a major effect on the gold capacity of the composites. Several ICP coated textiles recovered more than 90 % of the gold initially present in solutions containing 10 ppm $[AuCl_4]^-$ and 0.1 M HCl in less than 1 min. Both PPy/NDSA/nylon-lycra and PAn/Cl/nylon-lycra recovered approximately 60 % of the gold and none of the iron present in a solution containing 1 ppm $[AuCl_4]^-$, 1000 ppm $Fe^{3+}$ and 0.1 M HCl. The spontaneous and sustained recovery of gold metal from aqueous solutions containing $[AuCl_4]^-$ using ICP coated textiles has good prospects as a potential future technology.

The Transition of Production, Consumption and Price of Non-ferrous Metals (비철금속(非鐵金屬)의 생산(生産), 소비(消費), 시세(時勢)의 추이(推移))

  • Moon, W.J.
    • Economic and Environmental Geology
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    • v.2 no.3
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    • pp.1-25
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    • 1969
  • In considering the mining industry, it is necessary to study the production, consumption and price of ore and metals in every country of the world in order to determine the trend of the industry in the present and for the future. This study is necessary especially for exporting domestically produced are which is in excess of domestic consumption and for importing are, or metal where local production does not meet domestic demand. It will be treated of Au, Ag, Cu, Pb, Zn, W, Mo, which are the most important non-ferrous metals, and which greatly affect the mining industry of Korea. The presentation will concern itself only with the free world. About 1, 200 ton of gold are produced annually with little fluctiation in recent years. Most of the gold produced is consumed by advanced countries for industrial uses as well as for producing precious objects. The U.S.A. expends yearly about four times its domestic production and Japan about three times its domestic production for industry and arts. Because of the instability of the currency of the U.S.A., England and France, recently, the price of gold has been $ 41-42 per ounce, whereas the official price is $35.00 per ounce. It will be expected that the official price will be raised in the near future. As for silver, about 6,500 tons are produced annually with no special fluctuation change in recent years. However, the annual consumption is about 14,000 ton, so the supply and demand is extremely unbalanced. The shortage is made up by the sale of the U.S. treasury's reserve stock and the reclaiminig of silver from coins and other scrap. As the Treasury'S reserves will be exhausted in a year or two, the price of silver which is $1. 64 per ounce, will go up drastically in about a year. As for copper, 5,257,000 ton's were mined in 1966. It's production is being increased about 5% annually. However, consumption exceeds production by about 100,000 ton a year. The recent Foreign refinery copper price in the U.S.A is $ 60 per pound. The supply of copper being insufficient to meet international demands, the price will go up and with no prospect of being lowered in the near future even with the slight annual increase in production. About 2,100,000 to 2,200,000 tons of lead are produced annually. Consumption exceeds production by about 50,000-60,000 tons annually. The current price of lead in New York is $ 155 per pound. As the supply of lead is internationally stable, It will be believed that there will be no significant change in its price in the near future. In 1967, 3,926,000 tons of Zinc were produced. There is annual increase of 4-7% in production. The annual consumption exceeds production by 100,000 to 200,000 tons. The current zinc price in the St. Louis market inthe U.S.A. is $ 145 per pound. Even though its supply is stable and sufficient world wide, the consumption rate will increase at a faster pace than before; hence, the price will slowly go up. Tungsten mines yield about 11,000 tons a year. Its production has been relatively constant in the past few years. The amount of its consumption increases slowly world wide, but in the free world· there has been a slight annual decrease. However, since Red China has not been exporting their tungsten to other countries for several months, the price on the London market of S.T.U. of $Wo_3$ has increased to $ 44~46. Should Red China begin to export actively again the price will drop to $ 40~42. In 1967, 56,000 tons of Molybdenum were produced. Production exceeds consumption by 200,000 -30,000 tons annually. The current price in the U.S.A. is $ 1.72 per Mo pound. Since the rate of production in the U.S.A. is on the increase with large amounts of ore reserve, the price of molubdenum should not go up.

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Envisaging Macroeconomics Antecedent Effect on Stock Market Return in India

  • Sivarethinamohan, R;ASAAD, Zeravan Abdulmuhsen;MARANE, Bayar Mohamed Rasheed;Sujatha, S
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.8
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    • pp.311-324
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    • 2021
  • Investors have increasingly become interested in macroeconomic antecedents in order to better understand the investment environment and estimate the scope of profitable investment in equity markets. This study endeavors to examine the interdependency between the macroeconomic antecedents (international oil price (COP), Domestic gold price (GP), Rupee-dollar exchange rates (ER), Real interest rates (RIR), consumer price indices (CPI)), and the BSE Sensex and Nifty 50 index return. The data is converted into a natural logarithm for keeping it normal as well as for reducing the problem of heteroscedasticity. Monthly time series data from January 1992 to July 2019 is extracted from the Reserve Bank of India database with the application of financial Econometrics. Breusch-Godfrey serial correlation LM test for removal of autocorrelation, Breusch-Pagan-Godfrey test for removal of heteroscedasticity, Cointegration test and VECM test for testing cointegration between macroeconomic factors and market returns,] are employed to fit regression model. The Indian market returns are stable and positive but show intense volatility. When the series is stationary after the first difference, heteroskedasticity and serial correlation are not present. Different forecast accuracy measures point out macroeconomics can forecast future market returns of the Indian stock market. The step-by-step econometric tests show the long-run affiliation among macroeconomic antecedents.

CEREC 3D System을 이용한 당일수복 (one-day treatment) 임상증례

  • Jeong, Hyo-Gyeong
    • Journal of the Korean Academy of Esthetic Dentistry
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    • v.17 no.1
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    • pp.23-30
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    • 2008
  • Application of CAD/CAM is changing the way partial or full veneer all ceramic restoration is made. CAD/CAM systems, which were used mainly in other industries, have been developed and introduced for the dental purposes recently. It produced a flood of information on the CAD/CAM systems. It also influenced the development of restorative materials and all ceramic is substituting the traditional restorative materials of gold, composite resin and metal. Price increase of gold and other raw materials made the all ceramic more appealing. The introduction of a CEREC 3D system was innovative in several ways. Image of the prepared tooth is captured by camera and impression taking is unnecessary. Restoration can be delivered to the patient on one appointment and it will satisfy the demand of busy patients. One-day treatment with direct CAD/CAM system saves time compared to indirect CAD/CAM system. More superior restoration can be produced if lab work such as the adaptability check and shade selection is cooperated with lab technician. Short working time and comparably superior shade compatibility of color block was close to ideal. In the future, restorations with better quality can be fabricated in less time to busy patients thanks to the development of CAD/CAM system and dental materials.

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The Influence of Macroeconomics Variables on Sportainment Industry - Case Study Using the Stock Price Changes of Nike, Adidas - (거시경제요인이 스포테인먼트 산업에 미치는 영향 - NIKE, Adidas 기업 주가를 중심으로 -)

  • Kim, Hun-Il
    • Journal of Korea Entertainment Industry Association
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    • v.15 no.5
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    • pp.99-113
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    • 2021
  • This study to verify the influence of the macroeconomic factors to sportainment industry and also to find the value of use. For this, 'Dow Jones Industrial Average (DJIA)', 'West Texas intermediate (WTI)', and 'Gold Price (GP)' were selected from macroeconomic factors, and the 'Stock Price' of NIKE and Adidas for sportainment industry factor. The transaction data for 20 years (5,285 trade days) were analyzed through a two-step extraction process. Durbin-Watson regression analysis was performed to prove the influence and predict. From these analyses, the first, the Macroeconomics factors were found to have a significant effect on the sportainment industry. The second, each different levels of regression equations were found by the time setting, the environmental characteristics of each time period, and mutual relation between factors. Finally, it was found that the regression equation between specific period can be used for the future prediction in sportainment industry.

A Study on Co-movements and Information Spillover Effects Between the International Commodity Futures Markets and the South Korean Stock Markets: Comparison of the COVID-19 and 2008 Financial Crises

  • Yin-Hua Li;Guo-Dong Yang;Rui Ma
    • Journal of Korea Trade
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    • v.27 no.5
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    • pp.167-198
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    • 2023
  • Purpose - This paper aims to compare and analyze the co-movements and information spillover effects between the international commodity futures markets and the South Korean stock markets during the COVID-19 and the 2008 financial crises. Design/methodology - The DCC-GARCH model is used in the co-movements analysis. In contrast, the BEKK-GARCH model is used to evaluate information spillover effects. The statistical data used is from January 1, 2005, to December 31, 2022. It comprises the Korea Composite Stock Price Index data and daily international commodity futures prices of natural gas, West Texas Intermediate crude oil, gold, silver, copper, nickel, soybean, and wheat. Findings - The results of the co-movement analysis were as follows: First, it was shown that the co-movements between the international commodity futures markets and the South Korean stock markets were temporarily strengthened when the COVID-19 and 2008 financial crises occurred. Second, the South Korean stock markets were shown to have high correlations with the copper, nickel, and crude oil futures markets. The results of the information spillover effects analysis are as follows: First, before the 2008 financial crisis, four commodity futures markets (natural gas, gold, copper, and wheat) were shown to be in two-way leading relationships with the South Korean stock markets. In contrast, seven commodity futures markets, except for the natural gas futures market, were shown to be in two-way leading relationships with the South Korean stock markets after the financial crisis. Second, before the COVID-19 crisis, most international commodity futures markets, excluding natural gas and crude oil future markets, were shown to have led the South Korean stock markets in one direction. Third, it was revealed that after the COVID-19 crisis, the connections between the South Korean stock markets and the international commodity futures markets, except for natural gas, crude oil, and gold, were completely severed. Originality/value - Useful information for portfolio strategy establishment can be provided to investors through the results of this study. In addition, it is judged that financial policy authorities can utilize the results as data for efficient regulation of the financial market and policy establishment.

Optimal Service Contract Policies for Outsourcing Maintenance Service of Assets to the Service Providers

  • Rahman, Anisur;Chattopadhyay, Gopinath
    • International Journal of Reliability and Applications
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    • v.8 no.2
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    • pp.183-197
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    • 2007
  • There is a growing trend for asset intensive industries to outsource maintenance services of their complex assets since outsourcing through service contract reduces upfront investments in infrastructure, expertise and specialised maintenance facilities. Estimation of costs for such contracts is complex and it is important to the user and the service providers for economic variability. The service provider's profit is influenced by many factors such as the terms of the contract, reliability of asset, and the servicing strategies, costs of resources needed to carryout maintenance. There is a need to develop mathematical models for understanding future costs to build it into the contract price. Three policies for service contracts are proposed in this paper considering the concepts of outsourcing maintenance service of assets to the service providers. Conceptual models are developed for estimating servicing costs of outsourcing through service contracts by considering time dependent failure mode.

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The Current Status of the Warsaw Convention and Subsequent Protocols in Leading Asian Countries (아시아 주요국가(主要國家)들에 있어서의 바르샤바 체제(體制)의 적용실태(適用實態)와 전망(展望))

  • Lee, Tae-Hee
    • The Korean Journal of Air & Space Law and Policy
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    • v.1
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    • pp.147-162
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    • 1989
  • The current status of the application and interpretation of the Warsaw Convention and its subsequent Protocols in Asian countries is in its fredgling stages compared to the developed countries of Europe and North America, and there is thus little published information about the various Asian governments' treatment and courts' views of the Warsaw System. Due to that limitation, the accent of this paper will be on Korea and Japan. As one will be aware, the so-called 'Warsaw System' is made up of the Warsaw Convention of 1929, the Hague Protocol of 1955, the Guadalajara Convention of 1961, the Guatemala City Protocol of 1971 and the Montreal Additional Protocols Nos. 1,2,3 and 4 of 1975. Among these instruments, most of the countries in Asia are parties to both the Warsaw Convention and the Hague Protocol. However, the Republic of Korea and Mongolia are parties only to the Hague Protocol, while Burma, Indonesia and Sri Lanka are parties only to the Warsaw Convention. Thailand and Taiwan are not parties only to the convention or protocol. Among Asian states, Indonesia, the Phillipines and Pakistan are also parties to the Guadalajara Convention, but no country in Asia has signed the Guatemala City Protocol of 1971 or the Montreal Additional Protocols, which Protocols have not yet been put into force. The People's Republic of China has declared that the Warsaw Convention shall apply to the entire Chinese territory, including Taiwan. 'The application of the Warsaw Convention to one-way air carriage between a state which is a party only to the Warsaw Convention and a state which is a party only to the Hague Protocol' is of particular importance in Korea as it is a signatory only to the Hague Protocol, but it is involved in a great deal of air transportation to and from the united states, which in turn is a party only to the Warsaw Convention. The opinion of the Supreme Court of Korea appears to be, that parties to the Warsaw Convention were intended to be parties to the Hague Protocol, whether they actually signed it or not. The effect of this decision is that in Korea the United States and Korea will be considered by the courts to be in a treaty relationship, though neither State is a signatory to the same instrument as the other State. The first wrongful death claim in Korea related to international carriage by air under the Convention was made in Hyun-Mo Bang, et al v. Korean Air Lines Co., Ltd. case. In this case, the plaintiffs claimed for damages based upon breach of contract as well as upon tort under the Korean Civil Code. The issue in the case was whether the time limitation provisions of the Convention should be applicable to a claim based in tort as well as to a claim based in contract. The Appellate Court ruled on 29 August 1983 that 'however founded' in Article 24(1) of the Convention should be construed to mean that the Convention should be applicable to the claim regardless of whether the cause of action was based in tort or breach of contract, and that the plaintiffs' rights to damages had therefore extinguished because of the time limitation as set forth in Article 29(1) of the Convention. The difficult and often debated question of what exactly is meant by the words 'such default equivalent to wilful misconduct' in Article 25(1) of the Warsaw Convention, has also been litigated. The Supreme Court of Japan dealt with this issue in the Suzuki Shinjuten Co. v. Northwest Airlines Inc. case. The Supreme Court upheld the Appellate Court's ruling, and decided that 'such default equivalent to wilful misconduct' under Article 25(1) of the Convention was within the meaning of 'gross negligence' under the Japanese Commercial Code. The issue of the convention of the 'franc' into national currencies as provided in Article 22 of the Warsaw Convention as amended by the Hague Protocol has been raised in a court case in Korea, which is now before the District Court of Seoul. In this case, the plaintiff argues that the gold franc equivalent must be converted in Korean Won in accordance with the free market price of gold in Korea, as Korea has not enacted any law, order or regulation prescribing the proper method of calculating the equivalent in its national currency. while it is unclear if the court will accept this position, the last official price of gold of the United States as in the famous Franklin Mint case, Special Drawing Right(SDR) or the current French franc, Korean Air Lines has argued in favor of the last official price of gold of the United States by which the air lines converted such francs into us Dollars in their General Conditions of Carriage. It is my understanding that in India, an appellate court adopted the free market price valuation. There is a report as well saying that if a lawsuit concerning this issue were brought in Pakistan, the free market cost of gold would be applied there too. Speaking specifically about the future of the Warsaw System in Asia though I have been informed that Thailand is actively considering acceding to the Warsaw Convention, the attitudes of most Asian countries' governments towards the Warsaw System are still wnot ell known. There is little evidence that Asian countries are moving to deal concretely with the conversion of the franc into their own local currencies. So too it cannot be said that they are on the move to adhere to the Montreal Additional Protocols Nos. 3 & 4 which attempt to basically solve many of the current problems with the Warsaw System, by adopting the SDR as the unit of currency, by establishing the carrier's absolute liability and an unbreakable limit and by increasing the carrier's passenger limit of liability to SDR 100,000, as well as permiting the domestic introduction of supplemental compensation. To summarize my own sentiments regarding the future, I would say that given the fact that Asian air lines are now world leaders both in overall size and rate of growth, and the fact that both Asian individuals and governments are becoming more and more reliant on the global civil aviation networks as their economies become ever stronger, I am hopeful that Asian nations will henceforth play a bigger role in ensuring the orderly and hasty development of a workable unified system of rules governing international commercial air carriage.

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Optimization of wiring process in semiconductor with 6sigma & QFD (6시그마와 QFD를 활용한 반도체용 wire공법 최적화 연구)

  • Kim, Chang-Hee;Kim, Kwang-Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.7 no.3
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    • pp.17-25
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    • 2012
  • Wire bonding process in making semiconductor needs the most precise control and Critical To Quality(CTQ). Thus, it is regarded to be the most essential step in packaging process. In this process, pure gold wire is used to connect the chip and PCB(substrate or lead frame). However, the price of gold has been skyrocketing continuously for a long period of time and is expected to further increase in the near future. This phenomenon situates us in an unfavorable condition amidst the competitive environment. To avoid this situation, many semiconductor material making companies developed new types of wires: Au.Ag wire is one material followed by many others. This study is aimed to optimize the parameter in wire bonding with the use of 6sigma and QFD(Quality Function Deployment). 6sigma process is a good means to not only solve the problem, but to increase productivity. In order to find the key factor, we focused on VOB(Voice of Business) and VOC(Voice of Customer). The main factors from VOB, VOC are called CTQ. However, there were times when these main factors were far from offering us the correct answer, thus making the situation more difficult to handle. This study shows that QFD aids in deciding which of the accurate factors to undertake. Normally QFD is used in designing and developing products. 6sigma process is held more effective when it used with QFD.

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