Gold prices are hovering around the $2,050 mark on Tuesday and remain on a slippery slope in the charts. The conflict in the Red Sea is making gold prices shaky as there’s uncertainty about the next course of action. A US-owned vessel was hit by a missile off the coast of Yemen on Sunday. The anti-ship ballistic missile came from Houthi-controlled areas of Yemen, said the U.S. Central Command. Therefore, gold prices remain in the crosshairs of a decline. In this article, we will highlight what could gold’s price be at the end of this year in 2024.
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ChatGPT Predicts Gold Price For 2024
Leading AI bot ChatGPT predicted what could be the price of gold by the end of the year 2024. ChatGPT presented a likely scenario on how gold prices could fare this year in 2024. According to the artificial intelligence bot, gold prices could trade anywhere between $1,800 to $2,200 in 2024.
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However, it warned that the price range can turn accurate only if the markets remain stable with no new global war and turmoil in the coming future. Here’s what ChatGPT has to say about the gold price range for the year 2024.
“It’s challenging to determine an exact price range, but considering the historical role of gold as a safe haven asset and its sensitivity to economic uncertainties, a range of $1,800 to $2,200 per ounce by the end of 2024 might be plausible. This assumes a relatively stable economic environment with moderate inflation and no major geopolitical shocks,” predicted the AI bot.
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However, the markets and normalcy are two opposite things and always have more chances of a downturn. It is advised to do thorough research before taking an entry position into gold currently. The conflict in the Red Sea and the Middle East is only escalating and could threaten gold prices in 2024.