Spot Gold Price Prediction Using Financial News Sentiment Analysis

Data analytic helps investors to make prediction of the financial market. Financial news or other related information is an invaluable asset for investors’ accurate prediction and efficient decision. Most researchers focus on stock price prediction. Commodity market, and especially Spot Gold, has not been investigated deeply in literature. Spot Gold price prediction is proved to be an intractable task due to the complexity of market information and a huge amount of capital pool. This paper using financial sentiment analysis to transform text data into numerical data and using MLP model to predict Spot Gold price. The results show that using news and history price to predict Spot Gold prices is feasible and trustable.