Gold is the world’s most valuable asset and leading commodity, with a market value exceeding $14 trillion. Historically, gold has been known for its solid performance as a reliable store of value, especially during macroeconomic uncertainties. So, at what levels will the gold price be at the end of this year? We asked this to two artificial intelligence programs.
Price performance of gold
The gold price reached an all-time high, reaching up to $2,195 in 2024. Additionally, gold began trading at $2,062 on January 1. Therefore, it has gained 4.6% year-to-date. The precious metal has gained nearly 20% since the local low on October 6, 2023. cryptokoin.comAs you follow from , the price of gold dropped to $1,810 at that time. Currently, gold is traded at $2,157, according to the latest data.
Recently, different investment profiles have turned to gold, increasing its popularity and therefore its demand. Thus, it increased the price of gold in US dollars. Young Chinese investors, in particular, have begun investing in gold beans as an accessible way to gain exposure to the commodity.
Claude 3 Opus’s gold price prediction for the end of 2024
For gold’s future price movements, we consulted the most popular artificial intelligence (AI) models in the industry. In this context, we asked for a forecast for the end of 2024. First, we turned to Anthropic’s recently introduced Claude 3 Opus, which is considered superior to ChatGPT’s state-of-the-art model.
Claude Opus predicts that gold will reach approximately $2,400 by the end of 2024. Interestingly, the AI takes into account recent price movements, economic uncertainties, inflation concerns, geopolitical tensions, and strong momentum with the precious metal’s historical performance for this prediction.
ChatGPT-4’s gold price prediction for the end of 2024
Second, we asked ChatGPT-4, the most advanced AI chatbot developed by OpenAI. The GPT-4 model predicts a range of $2,300 to $2,500 for the shiny metal by the end of 2024. This is a similar forecast to Claude Opus, taking into account similar fundamental indicators as the first one. In addition, OpenAI’s product cites currency fluctuations, interest rates, supply and demand dynamics, and technical analysis to support its prediction.
In summary, the yellow metal has shown remarkable performance. The two most advanced AIs on the market also predict this will continue. Accordingly, the precious metal could gain more than 11% from current prices by reaching the $2,400 target. However, gold, like every financial asset, is sensitive to price changes. Therefore, there are no guarantees as to future price performance.
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