As 2024 approaches, the investment landscape is once again shrouded in uncertainty regarding the potential performance of various investment products. The ambiguity becomes particularly pronounced when deciding which products to choose.
Seeking clarity on potential investment options, Finbold turned to the generative artificial intelligence (AI) tool Google Bard Alphabet (NASDAQ: GOOGL). In this pursuit, the tool offered insights into four potential commodities to consider for purchase in 2024.
Google Bard Bitcoin 2024 outlook. Source: Google Bard.
Lithium
Google Bard also suggested that 2024 could be crucial for lithium, citing its crucial role in lithium-ion batteries powering electric vehicles and energy storage solutions. The increasing demand within these sectors is expected to be a driving force for the lithium market.
However, on the flip side, challenges loom as heightened production and recycling efforts may saturate the market, potentially leading to a decline in lithium prices. Despite its promising outlook, investors are advised to monitor these factors closely and consider potential market saturation risks associated with increased production and recycling initiatives.
Silver
Silver was another metal on the list, with Brad terming it a strategic investment choice, drawing parallels with gold as a potential hedge against inflation and economic uncertainty. Silver’s increasing applications in solar panels, electronics, and electric vehicles contribute to its growing allure among investors seeking diversification.
However, Bard urged investors to approach silver with caution. Despite its intrinsic value, the metal often plays second fiddle to gold in investor preferences, exposing it to fluctuations. Furthermore, advancements in battery technology raise considerations about silver’s future dependence on the electric vehicle sector.
As a note for investors, Google Bard stressed the importance of diversifying portfolios across asset classes for risk mitigation.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
