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Here’s when Silver price will hit $50, according to ChatGPT-4o

Here’s when Silver price will hit $50, according to ChatGPT-4o
Ana Zirojevic

As the price of silver has been struggling to remain above the price mark at $29 amid the United States Federal Reserve (Fed) indicating only one rate cut this year, a popular artificial intelligence (AI) model has provided insights that reveal when the white metal could hit $50.

Indeed, silver has been recording significant drops in the past month as precious metals demonstrate weaker appeal, despite Fed Chair Jerome Powell acknowledging a slowdown in the disinflation process and the cooler-than-expected Consumer Price Index (CPI).

Silver price prediction

In this context, the most recent and advanced model of OpenAI project ChatGPT, ChatGPT-4o, has analyzed available information to deliver a forecast that silver could achieve the price of $50 “within the next 1 to 2 years if the supply constraints persist and industrial and investment demand continue to rise.”

Specifically, as the AI chatbot explained:

“Historical patterns, bullish technical indicators, and positive expert forecasts all suggest a strong possibility for silver to reach the $50 mark again. However, investors should closely monitor market dynamics and broader economic indicators to gauge the timing accurately.”

Additionally, according to ChatGPT-4o, “silver has shown strength by breaking above the $25 level,” and “analysts have identified key resistance and support levels, with the next target around $35 as a near-term ceiling,” and it has also stressed that the Commitment of Traders (COT) report was “showing increased bullish sentiment among traders.”

Silver price analysis

So, how much is a kilo of silver worth at the moment? For now, the white metal is changing hands at the price of $29.38 per ounce or $944.65 per kilogram, which suggests a decline of 1.65% in the last 24 hours, a loss of 3.94% over the last week, while advancing 2.66% across the past month, per data on June 13.

Silver price 30-day chart. Source: BullionVault
Silver price 30-day chart. Source: BullionVault

Meanwhile, Kitco’s gold and silver analyst Hubert Moolman has projected that silver could peak at $134.65 per ounce in 2028, providing a technical analysis (TA) of the metal’s historical chart patterns, arguing the actual target could even be higher, as his chart only contains closing values.

Silver price action historical analysis. Source: Kitco
Silver price action historical analysis. Source: Kitco

Ultimately, silver could, indeed, reach the price of $50 in the period set by ChatGPT-4o, but it would be unwise to blindly rely on the insights provided by a generative AI bot, and traders should instead do their own research and carefully weigh the risks before investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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