I decided to ask chatbot Bard about gold price forecast. Here is what he replied:
Based on the analysis of the gold chart and macroeconomic factors, I make the following forecast for September 2023:
The price of gold will be in the range of 1700-2000 dollars per ounce.
In the short term, until the end of August 2023, the price of gold will be under pressure due to the increase in interest rates by the Fed. The increase in rates makes the US dollar more attractive to investors, which leads to a decrease in demand for gold as an alternative asset. As a result, the price of gold could fall to $1,700 per ounce.
In the medium term, from September to December 2023, the price of gold will rise as investors look for safe haven assets amid continued inflation and geopolitical tensions. As a result, the price of gold could rise to $2,000 per ounce.
The main factors that could affect the price of gold in September 2023 include:
Fed interest rates: An increase in interest rates will put pressure on the price of gold.
Inflation: High inflation will support demand for gold as a defensive asset.
Geopolitical tensions: Geopolitical tensions will support the demand for gold as a safe asset.
Economic growth: Weak economic growth will support the demand for gold as a defensive asset.
Of course, this is only a forecast, and the real price of gold may differ from it. Investors must make their own decisions about whether to buy or sell gold.
For me, it's certainly not entirely serious. But let's see - there is still a key point - from September to December, quotes will grow. Great weekend to everyone.
Based on the analysis of the gold chart and macroeconomic factors, I make the following forecast for September 2023:
The price of gold will be in the range of 1700-2000 dollars per ounce.
In the short term, until the end of August 2023, the price of gold will be under pressure due to the increase in interest rates by the Fed. The increase in rates makes the US dollar more attractive to investors, which leads to a decrease in demand for gold as an alternative asset. As a result, the price of gold could fall to $1,700 per ounce.
In the medium term, from September to December 2023, the price of gold will rise as investors look for safe haven assets amid continued inflation and geopolitical tensions. As a result, the price of gold could rise to $2,000 per ounce.
The main factors that could affect the price of gold in September 2023 include:
Fed interest rates: An increase in interest rates will put pressure on the price of gold.
Inflation: High inflation will support demand for gold as a defensive asset.
Geopolitical tensions: Geopolitical tensions will support the demand for gold as a safe asset.
Economic growth: Weak economic growth will support the demand for gold as a defensive asset.
Of course, this is only a forecast, and the real price of gold may differ from it. Investors must make their own decisions about whether to buy or sell gold.
For me, it's certainly not entirely serious. But let's see - there is still a key point - from September to December, quotes will grow. Great weekend to everyone.