Gold finished April at its highest end-of-month price ever, at around $2,300. Moreover, the yellow metal rose almost continuously to record highs in April. In this way, it has found itself in many headlines in recent weeks. So what route will it follow from now on? We asked artificial intelligence to give an idea.
Experts say gold has the potential to reach 3 thousand dollars
Indeed, as geopolitical fears rise, the king of safe-haven commodities is rising rapidly. Many experts, including Bloomberg’s Senior Commodity Strategist Mike McGlone, predict the precious metal will reach $3,000. Many experts, including McGlone, believe that gold has a significant advantage over stocks and cryptocurrencies and will outperform many other assets in the long run, due to the recent depressing inflation data and the widespread belief that the recession has been postponed rather than prevented. He concluded.
Artificial intelligence predicts gold price at the end of May
Analysts and experts are quite optimistic about the possible performance of gold until the end of 2024. Similarly, AI also reveals a positive outcome regarding the precious metal’s prospects. Still, in the most likely scenario, gold is well above its price at the time of writing, $2,300. ChatGPT predicts that the precious metal will reach $2,450 by the end of May. Thus, he predicts a significant rise that will push gold towards its year-end estimated value of $3,000. Finally, AI also sees a small possibility that gold’s current decline could deepen and find itself at $2,150 within a month.
“A big increase is possible for the precious metal in the coming weeks!”
A rise towards $2,450 within a month is quite ambitious. However, it does not make sense to completely ignore a significant increase at this time. cryptokoin.comAs you follow from , gold has indeed been rising strongly lately. However, it also faces some fluctuation. Although there is little news as worrying as the possibility of a full-scale war between Israel and Iran looming in mid-April, the situation in the Middle East remains tense and the situation in Europe is made even more tense by President Macron’s increasingly hawkish rhetoric.
Following the gold price crash in the second half of April, Nicky Shiels, Head of Metals Strategy at MKS PAMP, said ‘A new bad news is not bad news for Gold (and Silver) bulls’ and with potential dangers ahead, the precious metal could indeed see a big rise in the coming weeks he stated.
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