The goal of this diploma thesis is to analyze the gold market and provide readers with the necessary information and context having an impact on the price of gold. The thesis consists of three chapters. First one deals in general with the commodity market and introduces the readers to commodity exchange issues such as trading commodities in commodity exchanges, motives of commodity trading as well as the specific characteristics of commodities. Second one concerns the detailed analysis of commodity investment tools that investors might use when they feel like getting an exposure to price movements of commodities. The last chapter gears towards an analysis of the gold market in today's super globalized world and depicts what fundamental factors have an impact on the price of gold. At last, I shall summarize existing pieces of knowledge and cast light on further gold price movements.

<p>Инфективна болест бурзе (Гамборо болест) је контагиозна вирусна болест младих пилића. Узрочник је РНК вирус који припада фамилији Birnaviridae. Испољава тропизам према Фабрицијусовој бурзи доводећи до оштећења лимфоцита и атрофије. Болест се контролише вакцинацијом родитељских јединки и пријемчивих пилића. Употреба атенуираних вакцина може довести до смањења неких технолошких параметара. Циљ овог рада је био да се докаже које од примењених атенуираних вакцина, интермедијарних Гумбокал, Гумбокал D78 и интермедијарне-плус Гумбокал 228Е, индукује најбољи развитак имнунолошког одговора и доводе до најмањих оштећења у ткиву Фабрицијусове бурзе и слезене. Пратили смо да ли делују имуносупресивно на вакцину против Њукастл болести и да ли утичу на смањење телесне масе бројлерских пилића. Основне огледне групе су вакцинисане четрнаестог дана старости против Гамборо болести, а затим су од основних огледних група оформљене подгрупе које су вакцинисане против Њукастл болести у различитим временским периодима: О1-1, О2-2, О3-1 после седам дана, О1-2, О2-2, О3-2 после четрнаест дана, О1-3, О2-3, О3-3 после двадесетједан дан од вакцинације против Гамборo болести .Од првог до четрдесетдругог дана експеримента сваких седам дана је вађена крв пилићима, мерена њихова телесна маса и узорковане бурзе и слезене. Крвни серуми су испитивани на висину титра антитела ЕЛИСА тестом за Гамборо болест, а методом инхибиције хемагутинације за Њукастл болест. Највишу висину титра на Гамборо болест је показала огледна група О1, затим група О2 и најнижи О3. У огледним подгрупама О3-1, О3-2 и О3-3 се испољио имуносупресивни ефекат на имунолошки одговор према Њукастл болести. Фабрицијусовим бурзама је одређивана релативна маса и бурзални индекс да би се установило да ли је дошло до атрофије након примене вакцина. Најнижи бурзални индекс је установљен у огледној групи О3, затим у О2 и у О1. Таквим редоследом су устновљене и патохистолошке промене у бурзи. Добијени резултати указују да употреба интермедијане-плус вакцине индукује најбољи имунолошки одговор, али и најнижу релативну масу и вредност бурзалног индекса, као и нижу телесну масу у односу на инермедијарне вакцине. Примењене вакцине нису утицале на релативну масу слезене и нису довеле до појаве патохистолошких промена у њој.</p> / <p>Infektivna bolest burze (Gamboro bolest) je kontagiozna virusna bolest mladih pilića. Uzročnik je RNK virus koji pripada familiji Birnaviridae. Ispoljava tropizam prema Fabricijusovoj burzi dovodeći do oštećenja limfocita i atrofije. Bolest se kontroliše vakcinacijom roditeljskih jedinki i prijemčivih pilića. Upotreba atenuiranih vakcina može dovesti do smanjenja nekih tehnoloških parametara. Cilj ovog rada je bio da se dokaže koje od primenjenih atenuiranih vakcina, intermedijarnih Gumbokal, Gumbokal D78 i intermedijarne-plus Gumbokal 228E, indukuje najbolji razvitak imnunološkog odgovora i dovode do najmanjih oštećenja u tkivu Fabricijusove burze i slezene. Pratili smo da li deluju imunosupresivno na vakcinu protiv NJukastl bolesti i da li utiču na smanjenje telesne mase brojlerskih pilića. Osnovne ogledne grupe su vakcinisane četrnaestog dana starosti protiv Gamboro bolesti, a zatim su od osnovnih oglednih grupa oformljene podgrupe koje su vakcinisane protiv NJukastl bolesti u različitim vremenskim periodima: O1-1, O2-2, O3-1 posle sedam dana, O1-2, O2-2, O3-2 posle četrnaest dana, O1-3, O2-3, O3-3 posle dvadesetjedan dan od vakcinacije protiv Gamboro bolesti .Od prvog do četrdesetdrugog dana eksperimenta svakih sedam dana je vađena krv pilićima, merena njihova telesna masa i uzorkovane burze i slezene. Krvni serumi su ispitivani na visinu titra antitela ELISA testom za Gamboro bolest, a metodom inhibicije hemagutinacije za NJukastl bolest. Najvišu visinu titra na Gamboro bolest je pokazala ogledna grupa O1, zatim grupa O2 i najniži O3. U oglednim podgrupama O3-1, O3-2 i O3-3 se ispoljio imunosupresivni efekat na imunološki odgovor prema NJukastl bolesti. Fabricijusovim burzama je određivana relativna masa i burzalni indeks da bi se ustanovilo da li je došlo do atrofije nakon primene vakcina. Najniži burzalni indeks je ustanovljen u oglednoj grupi O3, zatim u O2 i u O1. Takvim redosledom su ustnovljene i patohistološke promene u burzi. Dobijeni rezultati ukazuju da upotreba intermedijane-plus vakcine indukuje najbolji imunološki odgovor, ali i najnižu relativnu masu i vrednost burzalnog indeksa, kao i nižu telesnu masu u odnosu na inermedijarne vakcine. Primenjene vakcine nisu uticale na relativnu masu slezene i nisu dovele do pojave patohistoloških promena u njoj.</p> / <p>Infectious bursal disease (Gumboro disease) is a contagious viral disease of young chickens. The causative agent is an RNA virus that belongs to the family Birnaviridae. It exhibits tropism toward bursa of Fabricius causing damage to cells and atrophy. The disease is controlled by vaccination of susceptible broiler breeders and chickens. The use of attenuated vaccines may lead to the reduction of certain production parameters. The aim of this study was to prove which of the applied attenuated vaccines, intermediate Gumbokal, Gumbokal D78 and intermediate-plus Gumbokal 228E, induces the best immunological response and leads to fewest damages to burza of Fabricijus tissue and spleen. We tracked whether it influences on immunosuppressive vaccine against Newcastle disease and if it leads to reduce of body mass of broiler chickens. Basic experimental groups were vaccinated on the fourteenth day of age against Gamboro diseases, and sub-groups were formed of the basic experimental groups which have been vaccinated against Newcastle disease in different time periods: O1-1, O2-2, O3-1 after seven days, O1-2 , O2-2, O3-2 after fourteen days, O1-3, O2-3, O3-3 after twenty-one days of vaccination against Gumboro disease. From the first to the fourty second day of the experiment, blood was extracted form the chicks every seven days, their body weight was measured and burza and spleen were sampled. Blood serum were assayed for the amount of the antibody titer by enzyme-linked immunosorbent assay test (ELISA) for Gumboro disease, and with Hemagglutination-inhibition test (HI) for Newcastle disease. The biggest titer for Gamboro disease were showed by experimental group O1, then O2 and group O3 the lowest. In the experimental subgroups O3-1, O3-2 and O3-3 immunosuppressive effect was exhibited on the immune response to Newcastle disease. Relative weight and bursal index were determined for burza of Fabricius to determine whether there was atrophy after administration of the vaccine. The lowest bursal index was established in the experimental group O3, followed by O2 and O1. Such sequence was establilshed also for histopathological changes in the burza. The obtained results indicate that the use of the intermediate-plus vaccine induces the best immune response, but also the lowest relative value of the mass and burzal index, as well as a lower body weight compared to the inermediate vaccine. Applied vaccines did not affect the relative weight of the spleen and have not led to the appearance of histopathological changes in it.</p>

Themes my diploma is ,,Bonds trading on the capital market in the Czech Republic``. In introductory part of my thesis I deal with theoretic summary and functioning of capital market, regulation and supervision of capital market and individual subjects acting in this market. In more detail I deal with describeing the Prague Stock Exchange and company RM-System. I further define conception the bond and I describe long bonds, theirs basic kinds and conceptions used in the bonds. I also allude to series of different kinds of the bonds, that the offer on the international markets. Next part of my thesis is aimed to describe the development of the Czech market of bonds. I analyze the development of bonds trading in the last of several years on the regulated markets and the OTC-markets in the Czech Republic. In the close of my thesis I analyze the development of bonds trading on the Czech market of bonds in comparasion with Slovakian, Polish and Hungarian markets. This analysis was take in on comparision of the Stock Exchange of chosen countries.

The graduation thesis "Analysis of stock-exchange data using AI methods" is focused on the use of neural networks while predicating the exchange-rate movements on Change. The theoretical part is divided into three independent units. The Change matters and the related individual terms are described in the first part. In the second part, the two basic approaches to the stock-exchange data analysis are analyzed, these two approaches being the fundamental and technical analysis. The third, and the last, theoretical part forms an individual unit describing the Artificial Intelligence theory. Particularly the issue of the neuronal networks is described in detail. The practical part seeks the use for the chosen neuronal network GAME. It analyses the chosen YMZ9 market. It focuses on the prediction of the exchange-rate movements using the "sliding window" method. The last chapter summarizes the results and it proves that under certain circumstances it is possible to properly use the neuronal networks both for the prediction of the stock-exchange movements and as one of the corner-stones of the profitable trading system.

The thesis is focused on selected risks and theirs management in power sector. In introduction it is analysed power sector in the context of other energy commodities, hereafter it is analysed the approach to power price modelling. Furthermore are analysed the aspects of regulatory risk in Czech Republic. Finally it is evaluated the risk management system of a company in power- utility sector.

The subject of my Master´s Thesis is the technical analysis. Teoretical part is about the approach of the theoretical issues, description of its individual methods, in the second part I'm concerned with the practical use of technical analysis in trading on the financial market and at the end of the thesis I will evaluate the effect of using the technical analysis in practice, in general also in the specific cases I investigated, I summarize its advantages and disadvantages.

The goal of this thesis “Futures trading of commodities as a retail trader” is creation of investment suggestion, based on analysis of possibilities, markets and factors influencing the price. In the first part are defined basic terms and information for better orientation on the futures commodity market. In the next part are analysis of the major commodity markets, groups of commodities and detailed analysis of interest commodities – gold and silver. The last third part of the thesis engage in creation of strategy for trading of commodity futures on gold and silver, which is the basic element for the final investment suggestion.

p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Helvetica} Automatization is higly used in stock traiding. The thesis try to exploid optimalization principles and machine learning. Developed and tested stock traiding system proces financial time series and generate optimal strategy

First chapter is about basic information pattern learning. Second chapter is about solutions of pattern recognition and about using artificial inteligence and there are basic informations about statistics and theory of chaos. Third chapter is focused on time series, types of time series and preprocessing. There are informations about time series in financial sector. Fourth charter discuss about pattern recognition problems and about prediction. Last charter is about software, which I did and there are informations about part sof program.

The aim of this work is to create an automated trading system for trading currency pairs using technical indicators and technical analysis. The proposed trading system is tested and optimized on historical price data. To verify the robustness of the proposed system was used walk-forward analysis. Automatic trading system also uses rules for position sizing and risk management of open positions. Created system is profitabel on historical price data and also in the walk-forward analysis.