Our news desk has been experimenting with the use of AI chatbots to predict bitcoin prices for the end of 2024. This time, we used the same AI chatbots to forecast the year-end prices for gold and silver.
Bitcoin reached a historic peak this year, surpassing $73,000. Meanwhile, gold reached an unprecedented $2,449 per ounce, although it is currently trading at $2,424 per ounce. Silver has also seen significant increases, reaching levels not seen since February 2013. As of May 21, silver is trading at $32.02 per ounce.
To predict the future prices of gold and silver, we employed several generative AI chatbots, including Chatgpt 4, 4o, and 3.5, Claude 3 Sonnet, Gemini, Pi, Le Chat, and Copilot creative mode. Each chatbot was given the same prompt to forecast the year-end values of both metals.
Interestingly, unlike previous tests with bitcoin, the AI models’ forecasts for gold and silver were relatively conservative. The prompt provided to the chatbots emphasized the uncertain global macroeconomic environment and current prices of gold and silver. Based on this information, the chatbots made their predictions.
Chatgpt 4 predicted that gold might reach approximately $2,500 per ounce by the end of 2024, while silver could climb to about $34 per ounce. These estimations take into account ongoing inflationary pressures and geopolitical tensions.
Chatgpt 4o’s prediction aligns with Chatgpt 4’s forecast.
Chatgpt 3.5 foresees gold reaching approximately $2,800 per ounce by the end of 2024, with silver settling near $35 per ounce. These estimates consider diverse macroeconomic influences and geopolitical events.
Claude Sonnet estimates that gold could trade between $2,600 and $2,800 per ounce by December 31, 2024, while silver could range from $36 to $42 per ounce. These predictions take into account the precious metals rally, economic uncertainty, and potential safe-haven demand.
Gemini’s prediction is not available.
Pi predicts that gold may reach $2,800 per ounce, driven by increased safe-haven demand and the weakness of the US dollar. Silver, on the other hand, might stabilize around $38.50 per ounce due to continued industrial demand and its appeal as a precious metal investment option.
Le Chat suggests that gold could potentially reach $2,800 per ounce, driven by its recent increase and investor interest. Silver might reach $40 per ounce, reflecting its role as both an industrial metal and a safe haven.
Copilot predicts that gold may reach $2,500 per ounce, while silver could hit $35 per ounce by the end of 2024. The bullish sentiment in precious metals is driven by a weaker dollar, rate cut expectations, and sustained demand in industrial sectors for silver.
Overall, the AI chatbots’ predictions for gold and silver prices by the end of 2024 suggest a continued upward trend. These forecasts take into account the ongoing global economic uncertainties and the traditional role of gold and silver as safe-haven assets. They also consider the potential impact of inflationary pressures and geopolitical tensions. Unlike previous bitcoin predictions, the chatbots did not provide a disclaimer about the accuracy of their forecasts. Ultimately, these projections are generated by automated systems producing predictive text.
What are your thoughts on the predictions made by the AI chatbots for gold and silver prices? Share your opinions in the comments section below.
