8 AI Chatbots Predict Precious Metals Year-End Prices: Gold at $2,800, Silver at $42

In recent months, our newsdesk has been testing the use of artificial intelligence (AI) chatbots to forecast bitcoin prices by the end of 2024 at specific intervals throughout the year. This time, we’ve changed our approach by employing the same generative AI chatbots to project the year-end prices for an ounce of .999 fine gold and a troy ounce of fine silver.

Gold and Silver Set for Continued Growth According to Several AI Forecasts

This year, bitcoin (BTC), the leading crypto asset, achieved a historic peak well above the $73,000 range, while precious metals such as gold and silver also experienced significant gains. Although silver hasn’t yet reached a record high, gold soared to an unprecedented $2,449 per ounce. Currently, gold is coasting along at $2,424 per ounce. Silver, meanwhile, has seen substantial value increases, reaching levels not seen since February 2013. As of May 21, an ounce of silver is trading at $32.02 per unit.

This week, our newsdesk at Bitcoin.com News utilized several generative AI chatbots to revisit a question previously asked about BTC’s year-end price prediction. This time the question centered on the future prices of gold and silver. The chatbots included Openai’s Chatgpt 4, 4o, and 3.5, Anthropic’s Claude 3 Sonnet, Google’s Gemini, Inflection AI’s Pi, Mistral AI’s Le Chat and Microsoft’s Copilot creative mode. Each AI chatbot was fed the same prompt to forecast the year-end values of both gold and silver per troy ounce.

Notably, unlike the earlier tests with bitcoin predictions, the AI models’ forecasts for gold and silver were quite conservative. The prompt used for this particular experiment was:

This experiment aims to predict the prices of gold and silver by the end of 2024. As an authority in precious metals, you are to assess the probable prices of gold and silver at the end of 2024 and provide a rationale for your forecast. The global macroeconomic environment remains uncertain. Today’s date is May 21, 2024, with gold currently trading at $2,424 per troy ounce and silver at $32.02 per ounce. Gold has increased by 21% over the past six months, while silver has risen by over 35% in the same period. Based on your expertise, what will be the price of gold and silver per troy ounce on Dec. 31, 2024?

Chatgpt 4 answer:

Given the current upward trends and global economic uncertainties, I predict that gold may reach approximately $2,500 per troy ounce by the end of 2024, reflecting a continued but moderate increase. Silver, benefiting from both industrial demand and its role as a monetary asset, might climb to about $34 per ounce. These estimations consider ongoing inflationary pressures and geopolitical tensions.

Chatgpt 4o answer:

Chatgpt 3.5 answer:

Amidst current economic uncertainties and a notable uptrend, I foresee gold reaching approximately $2,800 per troy ounce by Dec. 31, 2024, indicating a deliberate and measured climb. Silver, supported by its strong showing, is expected to settle near $35 per ounce, demonstrating resilience amidst market shifts. These estimates hinge on diverse macroeconomic influences and geopolitical events.

Claude Sonnet answer:

Given the current precious metals rally, heightened economic uncertainty, and potential safe-haven demand, I estimate gold could trade around $2,600-$2,800 per ounce by December 31, 2024. For silver, factoring in its industrial applications and historically higher volatility, a range of $36-$42 per ounce seems plausible by year-end 2024.

Gemini answer:

Pi’s answer:

Considering the ongoing macroeconomic uncertainties and the recent price momentum of gold and silver, I predict gold may continue its upward trajectory, reaching $2,800 per troy ounce by the end of 2024. This projection is based on the potential for increased safe-haven demand, alongside the ongoing weakness of the US dollar. Conversely, silver might experience more modest growth, potentially stabilizing around $38.50 per Troy ounce, driven by the continued demand for its industrial applications and its appeal as an affordable precious metal investment option.

Le Chat’s answer:

Given the current upward trend and the uncertain global macroeconomic landscape, it’s likely that gold and silver will continue to be seen as safe havens. Gold could potentially reach $2,800 per troy ounce by the end of 2024, driven by its recent 21% increase and continued investor interest. Silver, with its more volatile nature and a significant 35% rise, might reach $40 per ounce, reflecting its role as both an industrial metal.

Copilot’s answer:

Considering the current upward trends and macroeconomic factors, gold may reach $2,500/Troy ounce, and silver could hit $35/Troy ounce by the end of 2024. The bullish sentiment in precious metals is driven by a weaker dollar, rate cut expectations, and sustained demand, particularly in industrial sectors for silver. These factors, alongside geopolitical uncertainties, support the likelihood of continued appreciation.

The AI chatbots’ predictions for gold and silver’s year-end prices, while conservative, suggest a continued upward trend. This is likely due to the ongoing global economic uncertainties and the metals’ traditional role as safe-haven assets. The forecasts also highlight the potential impact of inflationary pressures and geopolitical tensions on precious metal prices. Unlike previous bitcoin forecasts, these chatbots did not caution that their predictions might be inaccurate. After all, ultimately these projections are generated by automated systems producing predictive text.

What are your thoughts on the predictions made by the eight AI chatbots for gold and silver prices by the end of 2024? Share your thoughts and opinions about this subject in the comments section below. #Write2Earn