Forecasting Palladium Price Using GM(1,1)

Palladium is an element of PGM group that has significant physical properties. This leads to more attention to this metal. Due to vast applications of palladium in industry and its usage in jewelry, its price plays an important role in economic. Therefore, forecasting its price is crucial subject in economic and engineering design. This paper proposes the model GM(1,1) to predict the Palladium price. The method is applied in experimental data for two recent years. The results show that the method is robust and accurate.