Box-Cox transformation of monthly Malaysian gold price range
Gold has a long history in trading over the past decades until its role in trading was replaced by the introduction of banknotes and coins. Gold is undeniably one of the prime commodities in investments and as well as a hedging tool. Thus, it is important to study the fluctuation in monthly gold pri...
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| Format: | Article |
| Language: | English |
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Institute for Mathematical Research, Universiti Putra Malaysia
2017
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| Online Access: | http://psasir.upm.edu.my/id/eprint/51919/ http://psasir.upm.edu.my/id/eprint/51919/1/9.%20kathibun.pdf |
| _version_ | 1848851964478095360 |
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| author | Gopal, Kathiresan Abdul Rahim, Muhammad Firdaus Adam, Mohd Bakri |
| author_facet | Gopal, Kathiresan Abdul Rahim, Muhammad Firdaus Adam, Mohd Bakri |
| author_sort | Gopal, Kathiresan |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | Gold has a long history in trading over the past decades until its role in trading was replaced by the introduction of banknotes and coins. Gold is undeniably one of the prime commodities in investments and as well as a hedging tool. Thus, it is important to study the fluctuation in monthly gold price in Malaysia to extract useful information that could benefit investors and the government. In this paper, Box-Cox transformation was applied on the original data to deal with the presence of heteroscedasticity, non-normality and outliers. Monthly gold price data for the period of 2002 to 2011 were obtained to study its fluctuation using range as a measure of dispersion. It is found that the Malaysian gold price range is best described by the Normal distribution with parameters estimated using Maximum Likelihood Estimation. |
| first_indexed | 2025-11-15T10:30:33Z |
| format | Article |
| id | upm-51919 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T10:30:33Z |
| publishDate | 2017 |
| publisher | Institute for Mathematical Research, Universiti Putra Malaysia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-519192017-05-03T04:41:02Z http://psasir.upm.edu.my/id/eprint/51919/ Box-Cox transformation of monthly Malaysian gold price range Gopal, Kathiresan Abdul Rahim, Muhammad Firdaus Adam, Mohd Bakri Gold has a long history in trading over the past decades until its role in trading was replaced by the introduction of banknotes and coins. Gold is undeniably one of the prime commodities in investments and as well as a hedging tool. Thus, it is important to study the fluctuation in monthly gold price in Malaysia to extract useful information that could benefit investors and the government. In this paper, Box-Cox transformation was applied on the original data to deal with the presence of heteroscedasticity, non-normality and outliers. Monthly gold price data for the period of 2002 to 2011 were obtained to study its fluctuation using range as a measure of dispersion. It is found that the Malaysian gold price range is best described by the Normal distribution with parameters estimated using Maximum Likelihood Estimation. Institute for Mathematical Research, Universiti Putra Malaysia 2017 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/51919/1/9.%20kathibun.pdf Gopal, Kathiresan and Abdul Rahim, Muhammad Firdaus and Adam, Mohd Bakri (2017) Box-Cox transformation of monthly Malaysian gold price range. Malaysian Journal of Mathematical Sciences, 11 (spec. Apr.). pp. 107-118. ISSN 1823-8343; ESSN: 2289-750X http://einspem.upm.edu.my/journal/fullpaper/vol11sapril/9.%20kathibun.pdf |
| spellingShingle | Gopal, Kathiresan Abdul Rahim, Muhammad Firdaus Adam, Mohd Bakri Box-Cox transformation of monthly Malaysian gold price range |
| title | Box-Cox transformation of monthly Malaysian gold price range |
| title_full | Box-Cox transformation of monthly Malaysian gold price range |
| title_fullStr | Box-Cox transformation of monthly Malaysian gold price range |
| title_full_unstemmed | Box-Cox transformation of monthly Malaysian gold price range |
| title_short | Box-Cox transformation of monthly Malaysian gold price range |
| title_sort | box-cox transformation of monthly malaysian gold price range |
| url | http://psasir.upm.edu.my/id/eprint/51919/ http://psasir.upm.edu.my/id/eprint/51919/ http://psasir.upm.edu.my/id/eprint/51919/1/9.%20kathibun.pdf |