AI Predicts Gold Price for May 31: Impact on Bitcoin (BTC) and Ethereum (ETH) Market Trends

• Gold completed April with its highest ever monthly closing price of approximately $2,300. The precious metal has been consistently breaking records throughout the month, making headlines in recent weeks. But what’s next for gold? We asked artificial intelligence for some insight.
• Experts, including Bloomberg’s Senior Commodity Strategist Mike McGlone, predict that gold has the potential to reach $3,000 due to increasing geopolitical fears, disappointing inflation data, and the widespread belief that recession has been postponed rather than prevented.
• Artificial intelligence predicts that by the end of May, gold will reach $2,450, a significant increase that will push it towards the year-end predicted value of $3,000. However, AI also sees a small possibility that the current decline in gold could deepen, and it could find itself at $2,150 within a month.

Gold reaches record highs and is predicted to continue its upward trend, according to experts and AI predictions. The precious metal could reach $3,000, driven by geopolitical fears and disappointing economic data.

Experts Predict Gold Could Reach $3,000

With the rise of geopolitical fears, the king of safe-haven commodities is rapidly increasing. Experts, including Bloomberg’s Senior Commodity Strategist Mike McGlone, predict that gold could reach $3,000. Many experts, including McGlone, believe that gold has a significant advantage over stocks and cryptocurrencies due to recent disappointing inflation data and the widespread belief that recession has been postponed rather than prevented. They conclude that gold will outperform many other assets in the long term.

AI Predicts Gold Price by End of May

Analysts and experts are quite optimistic about the potential performance of gold by the end of 2024. Similarly, AI also presents a positive outlook for the precious metal. According to the most likely scenario, gold will be well above its current price of $2,300. AI predicts that gold will reach $2,450 by the end ... Read the full article for FREE at COINOTAG!