Abstract
Gold, used for jewelry and ornaments at times, is now considered a safe metal for investment. In addition to buying and selling gold physically, some markets offer electronic trade in gold. Trade volume is on surge in these bullion markets with each passing day. Daily opening and closing gold prices are used for analysis for 7740 days. Data series of daily return on investment in gold is split into two data series; first when the price goes up and second when the price goes down, at the day’s end. Statistical properties of three data series are analyzed and probabilities to earn profits are calculated during any day regardless of what types of decisions are going to be made that day. Probabilities of daily return, for both long and short positions, are presented in the form of tables. The expected daily profit of a trader with associated probability is explained in an illustrative example.
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