Peter Schiff, an economist and a long-time proponent of gold, has recently praised Openai's Chatgpt assistant for recommending an extensive portfolio of cash and commodities as a safe haven against recession. Chatbot answered to the prompt of "provide an example of a portfolio that is resilient to boom and bust cycles." This portfolio included 40% bonds, 30% blue chip stocks, 10% cash and its variants and an impressive 20% in gold and other precious metals including gold ETFs and mining stocks. This pleased Schiff, who tweeted about the AI's wisdom, for it left out Bitcoin.

This comes at a time when gold has seen an increase in its price due to the current market volatility and uncertainty, when it crossed the $2,000 mark earlier this week. Schiff had previously predicted that a bull market for gold would lead to even higher prices and his statements have only been validated now. He cited the AI's portfolio, which is heavily concentrated in gold, as a good example of recession-proof investments.

For decades, gold has been a widely accepted destabilized asset among investors both in physical and digital formats, such as gold ETFs and mining stocks, for minimizing losses during economic downturns and protecting wealth from stock market declines and inflation. As reported in the press release, Chatgpt's allocating 20% of the portfolio to gold, vastly exceeds the figure proposed by prominent 'gold bug' wealth managers like Peter Schiff and Ray Dalio and proves that gold is a key asset in robust and stable portfolios even in modern-day investments.



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