What does the model project for gold next year?
A lognormal model fitted to 26 years of gold prices puts the median one-year path at NT$198,451 per tael, with a one-standard-deviation range of NT$147,626 to NT$266,774.
The detail
The model has exactly two inputs, both measured from real closes: an annualised return of 11.48% and annualised volatility of 29.6%.
This is not a forecast and nobody can forecast a market price. It is a statement of what this metal's own past behaviour implies about the spread of possible outcomes. Real prices land outside modelled ranges regularly. Not investment advice.
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