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    ChatGPT4-o Estimates Gold Worth By the Close of Year 2024

    Throughout much of the year 2024, gold has remained a compelling investment due to widespread political turmoil, inflationary pressures, fluctuating interest rates, and its importance in the technology sector amidst the ongoing rise in artificial intelligence advancements. This asset has been hitting successive record highs, once surpassing $2,450 per ounce.

    Presently, however, the valuable metal has retreated and returned to a more stable level over the course of several months – around $2,365 – marking a notable increase of about 14.63% from the start of 2024.

    Taking into account the yearly growth in gold values, the recent adjustment, and the upbeat expert forecasts anticipating a surge to $3,000 by December 31, Finbold reached out to the lite version of OpenAI’s advanced public AI platform – ChatGPT-4o mini – for insights on the future trajectory of this precious metal over the next five months.

    ChatGPT-4o mini’s Prediction for Gold Price at End of 2024

    Instantly, ChatGPT-4o mini showcased its limitation in market analysis compared to its larger counterpart. It appeared to have utilized outdated training data or drawn from historical facts, inaccurately stating gold’s trading range as $1,850 to $2,000 per ounce.

    Based on this erroneous data, the AI forecasted a modest increase in the gold price by the year-end, setting it at $2,050 by late December.

    Upon correction, ChatGPT-4o mini upheld its cautiously positive outlook and established a new price target for gold at $2,520 by the culmination of the year.

    The AI cited inflation, interest rates, geopolitical shifts, strong demand, and favorable market sentiment as bolstering factors for its forecast.

    When questioned about potential deviations from the primary price target, the AI seemed puzzled. While acknowledging the possibility of a more bullish scenario over a bearish trend, it set a more optimistic outlook of $2,450 as a secondary forecast, somewhat below its initial prediction.

    Image Source: tech_BG / Shutterstock

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