While gold’s continuous 2024 rally came to a screeching halt on November 6, most recent trading reignited the uptrend and, with it, the discussions about not whether but when the world’s biggest asset will hit $3,000.
Much like the conclusion that the record price is guaranteed, which has been surprisingly common, disagreements about when the milestone will be reached have also been continuous.
In late 2023 and early 2024, the end of the current year was the common goal post, but more recent analysis – tempered by the correction – moved it as far forward as the end of 2025.
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Goldman Sachs (NYSE: GS) is the most recent exemplar of the trend among analysts as it recommended investors buy gold amidst the rise in trade tensions and interest rate uncertainty but predicted the yellow metal would hit $3,000 only in December 2025.
In search of another analytical opinion, Finbold turned to one of the most advanced artificial intelligence (AI) models to try to discover the date the precious metal could reach its long-awaited price.
AI predicts when Gold will reach $3,000
When assessing gold’s prospects, OpenAI’s ChatGPT-4o model turned to many of the commonly cited price drivers.
For example, it is estimated that the current inflationary trends are doing much to increase the commodity’s appeal, even though they have fallen significantly from recent multi-decade highs across major economies.
Similarly, the AI pointed out that the Fed’s recent decisions to lower interest rates have lowered gold’s opportunity cost, again enticing investors to buy the precious metal.
The trend for purchasing the yellow metal observed among central banks, long speculated to be a significant price driver, was likewise cited as bullish, as ChatGPT concluded these institutions will continue pursuing the policy.
Furthermore, though the AI made no mention of the often-discussed geopolitical tensions in the form of hot wars in places like Palestine and Ukraine and the danger of a trade war between the U.S. and China, it did state that the danger of major economies like the People’s Republic and the European Union will slow down will drive investors to seek protection offered by the safe haven asset.
Finally, after concluding that $3,000 is a plausible price target and after speculating that either September or December is the likely month it will be reached, ChatGPT concluded that September 21 is the most probable date.
Gold price chart
Whatever predicted date proves correct, gold’s recent upward reversal certainly reignited hopes the commodity still aims for $3,000. Indeed, the precious metal is up 2.91% in the last 5 days and, with its current price at $2,648, 28.39% in the green year-to-date (YTD).
Still, gold will require a more persistent uptrend to recover from its November losses as it remains 2.73% in the red in the last 30 days, and approximately 5% below its late October highs just under $2,800.
Featured image via Shutterstock
