Gold prices are expected to remain elevated through the third quarter of 2025, with the potential to reach new record highs, according to insights from an artificial intelligence (AI) tool.
This follows a more than 1% rise in gold on Tuesday, driven by a weaker U.S. dollar and growing global trade uncertainty.
Notably, the dollar slipped amid fiscal concerns stemming from President Donald Trump’s sweeping tax cuts and spending plans, further weighing on market sentiment.
As of press time, gold was trading at $3,338 per ounce and remains one of the best-performing commodities year to date, up over 27%.
To explore how the precious metal might perform through the remainder of Q3, Finbold turned to OpenAI’s ChatGPT, which outlined several potential scenarios for gold.
Fundamentals driving gold prices
According to the AI model, the base case scenario predicts a gold price range of $3,420 to $3,600 per ounce, supported by a combination of macroeconomic and geopolitical factors.
ChatGPT’s outlook is guided by gold’s strong safe-haven demand amid ongoing global instability, including the war in Ukraine, U.S.-China tensions, and heightened risks in the Middle East.
At the same time, central banks, especially in China, India, and other emerging markets, have also been steadily increasing gold reserves to reduce reliance on the U.S. dollar, providing additional structural support to prices.
Additionally, a weaker dollar and persistently low or flat real interest rates further enhance gold’s appeal. Should the Federal Reserve pause or cut rates, gold prices could rise further. While headline inflation has cooled, core inflation remains above target, reinforcing the case for gold in a cautious monetary environment.
Gold’s prices to watch at Q3 2025
Examining the prices, the AI model assigned a 60% probability to the base case scenario, where gold trading is expected to be between $3,420 and $3,600 in Q3.
A more bullish outcome, driven by an early Fed pivot and intensifying global risk aversion, could push prices to between $3,600 and $3,800; however, this is considered less likely, with a 25% probability.
Conversely, if the Fed resumes rate hikes or the dollar strengthens significantly, gold could retreat to the $3,150 and $3,300 range, a scenario given a 15% chance.
Overall, ChatGPT expects gold to stay elevated and potentially end the quarter near $3,500 per ounce.
Featured image via Shutterstock
