Gaussian Process Regression Based Silver Price Forecasts

A significant number of market participants have placed a high level of importance on price estimates for the primary metal commodities for a considerable amount of time. To tackle the problem, we investigate the daily reported price of silver in our study. The sample that is being analyzed spans a period of 13 years, starting on April 20, 2011, and ending on April 19, 2024. The price series which is being investigated has important implications for the commercial world. Specifically, when it comes to this unique circumstance, Gaussian process regression models are developed utilizing cross-validation strategies and Bayesian optimization procedures. The forecasting of prices is therefore accomplished via the…