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Table 3 Comparison of actual values and forecast values between models (7) and (15) and their associated forecast errors

From: Investigating seasonality, policy intervention and forecasting in the Indian gold futures market: a comparison based on modeling non-constant variance using two different methods

Lead time (Months)

Actual value (Rs.)

Forecast from model in (7)

Forecast error

Forecast from model in (15)

Forecast error

Jan 2018

29,634.09

28,912.17

721.92

28,888.65

745.44

Feb 2018

30,392.9

30,007.37

385.53

29,938.32

454.58

Mar 2018

30,454.24

30,014.46

439.78

29,904.09

550.15

Apr 2018

31,113.81

29,635.16

1478.65

29,529.89

1583.92

May 2018

31,152.26

29,515.09

1637.17

29,361.16

1791.1

June 2018

30,845.57

29,803.44

1042.13

29,647.88

1197.69

July 2018

30,101.95

30,114.03

− 12.08

29,937.36

164.59

Aug 2018

29,710.23

31,150.51

− 1440.28

30,935.40

− 1225.17

Sept 2018

30,563.3

31,498.75

− 935.45

31,236.43

− 673.13

Oct 2018

31,659.86

30,959.01

700.85

30,662.91

996.95

Nov 2018

30,948.64

31,199.12

− 250.48

30,838.18

110.46

Dec 2018

31,412.55

30,666.13

746.42

30,252.24

1160.31

Jan 2019

32,067.91

30,892.56

1175.35

30,453.99

1613.92