Silver is the eighth most valuable asset on Earth, and the second largest commodity, with $1.4 trillion in capitalization. Historically, silver is known for its performance as a reliable store of value, similar to gold, specifically during macroeconomic uncertainties.
In that sense, the precious metal has seen nearly 25% gains since a local bottom on March 10, 2023. Silver traded as low as $19.91 per ounce, then, now indexed at $24.84 per ounce by TradingView.
Notably, the investment guru and author of the best-seller ‘Rich Dad Poor Dad,’ Robert Kiyosaki, believes silver has the “best bargain.” According to the investor:
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“Silver is not only a precious metal it is also an industrial metal and a strategic metal. With war all around the world demand for silver is soaring. Recently Elon Musk’s company Tesla just secured rights to several silver mines to insure the metal for Teslas EVs. Silver is still 60% below its all-time high. And almost everyone in the world can afford one silver coin. Time to buy more silver?”
– Robert Kiyosaki
Silver’s price for the end of 2024: AI forecasts
Looking for insights on silver’s future price action, Finbold turned to the most popular artificial intelligence (AI) models in the industry and asked for a forecast for the end of 2024. For this report, we used a pay-per-prompt AI platform with access to multiple models called NanoGPT.
Claude 3 Opus AI predicts the price of silver in 2024
First, we consulted the recently unveiled Claude 3 Opus by Anthropic; deemed superior to ChatGPT’s last upgrade.
Claude Opus predicts silver could reach around $35 to $40 per ounce by the end of 2024. Interestingly, the AI considers a strong momentum with recent price action, industrial demand, geopolitical factors, affordability, and the precious metal’s historic perspective for this forecast.
ChatGPT-4
Second, Finbold asked ChatGPT-4, the flagship artificial intelligence product developed by OpenAI.
The GPT-4 model predicts a range between $30 and $35 for silver at the end of 2024. This is a similar forecast to Claude Opus, which also considered similar fundamental indicators as the first. Additionally, OpenAI’s product mentions monetary policies and inflation, strategic demand, public sentiment, and investment demand to back its prediction.
However, it’s notable that ChatGPT is slightly less optimistic than Claude.
In summary, silver has demonstrated a solid performance and the two supposedly most advanced AIs in the market see continuation. The leading commodity could see more than 40% gains from current prices by reaching the common target of $35 per ounce, mentioned by both models.
However, silver is susceptible to price variations like any financial asset and there are no guarantees on its future price performance.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
