Gold

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 <p class="paragraph">Gold has found its spot in many headlines in recent weeks thanks to its near-continuous surging to record highs – including rising to finish April at its highest-ever end-of-month <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> at about $2,300 per ounce.&nbsp;</p>
 <p class="paragraph">Indeed, with the stock market and economic outlook feeling uncertain and geopolitical fears mounting, the king of safe-haven commodities has indeed been climbing rapidly, with many experts – including <em>Bloomberg’s</em> Senior Commodity Strategist Mike McGlone – predicting the precious metal is likely to hit $3,000.</p>
 <p class="paragraph">Many, again including McGlone, have also concluded that, with the recent disheartening inflation data and a widespread belief that a recession has been postponed rather than avoided, gold has a substantial advantage over stocks and cryptocurrencies and that it will outperform many other assets in the long run.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <p class="paragraph">Short-term predictions, on the other hand, are in a shorter supply and with gold trading with significant volatility in the last few days, Finbold decided to consult artificial intelligence (AI) of OpenAI’s flagship platform – ChatGPT – on where gold might find itself at the end of May.</p>
 <h2 class="wp-block-heading" id="h-ai-forecasts-gold-price-at-the-end-of-may">AI forecasts gold price at the end of May</h2>
 <p class="paragraph">As analysts and experts are themselves highly bullish about gold’s likely performance by the end of 2024, the AI is also positive about the precious metal’s prospects.</p>
 <p class="paragraph">Still, its most likely scenario would see gold remain in its press time range, either slightly below or slightly above its press-time <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $2,292. ChatGPT also offered a substantially more bullish forecast that would – at $2,450 – send gold well on its way toward the year-end forecasted value of $3,000.</p>
 <p class="paragraph">Finally, the AI also sees a slight possibility that gold’s current slump could deepen and could, in one month’s time, find itself at $2,150.</p>
 <figure class="wp-block-image aligncenter size-large"><img decoding="async" width="1024" height="507" src="https://cdn.thebittimes.com/images/2024/05/02/83fe098a85197b2231a63e4f6215177f.webp" alt class="wp-image-173355" srcset="https://cdn.thebittimes.com/images/2024/05/02/83fe098a85197b2231a63e4f6215177f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/02/83fe098a85197b2231a63e4f6215177f.webp 300w, https://cdn.thebittimes.com/images/2024/05/02/83fe098a85197b2231a63e4f6215177f.webp 768w, https://cdn.thebittimes.com/images/2024/05/02/83fe098a85197b2231a63e4f6215177f.webp 1280w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Gold price forecast for May 31, 2024. Source: ChatGPT &amp; Finbold
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 </figure>
 <p class="paragraph">While a rally toward $2,450 in one month’s time might appear ambitious, a substantial increase should not be entirely ruled out.</p>
 <p class="paragraph">Indeed, gold has been both rising and trading with some volatility recently and though there have been few news as concerning as the possibility of a full-blown war between Israel and Iran that ran high in mid-April, the situation in the Middle East remains tense, and the situation in Europe is growing tenser with President Macron’s increasingly hawkish rhetoric.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/s-QWPf_R0kbGJqqdxMP7A9pF7VuVpyXeUxCjHyoNFCpcxT1zjAIDKWA8qKPcRjV6_moVm600jhbBKup1wE7fuvbUx3Fbv0MXeuasCM0OgDxy5pOLnWKjex5iJUKko1ajRk1xDw_z03QNevfOE_3Bd3s" alt>
  <figcaption class="wp-element-caption">
   Gold 1-month price chart. Source: TradingView
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 </figure>
 <p class="paragraph">After a gold slump in the second half of April, Nicky Shiels, Head of Metals Strategy at MKS PAMP, opined that ‘no new bad news is bad news for Gold (&amp; Silver) bulls,’ and with the potential dangers looming ahead, the precious metal may indeed see a massive surge in the coming weeks.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-predicts-gold-price-for-may-31-2024-tbt87250.html">https://thebittimes.com/ai-predicts-gold-price-for-may-31-2024-tbt87250.html</a></p>

AI predicts Gold price for May 31, 2024

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