"Rich Dad Poor Dad" author Robert Kiyosaki recently made a bold call on gold price, and warned investors that holding cash could be a costly mistake. In an X post on June 15, he wrote that go
"Rich Dad Poor Dad" author Robert Kiyosaki recently made a bold call on gold price, and warned investors that holding cash could be a costly mistake.
In an X post on June 15, he wrote that gold has "finally" begun its next major move after surging above $4,300 an ounce on Monday, June 15.
At press time, it was trading at $4,362.6 an ounce.
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While acknowledging some investors may have missed the rally, he argued that the precious metal's rise is only getting started.
The personal finance author predicted,
"I am confident it will be $35,000 an ounce by 2035."
The longtime gold and cryptocurrency advocate used the post to repeat his familiar financial advice that cash is losing value while hard assets preserve wealth.
Calling cash "trash," he warned that holders could be "big losers" if they continue holding traditional currency rather than assets he considers stores of value.
Kiyosaki urged followers to move some of their cash into gold, silver, Bitcoin (BTC), Ethereum (ETH), and oil, saying that strategy has guided his own investing decisions for years.
Over the past year, he has repeatedly predicted major gains for gold, silver, and Bitcoin while warning of a looming financial and market crisis.
While gold and silver have surged by about 26% and 89% respectively in the past year, Bitcoin has dropped by over 36% as of Monday. But if we narrow the lens, both the precious metals and Bitcoin have dropped over the past month. Gold and silver had dropped by over 6% and 10% respectively, while Bitcoin was down by over 14%.
As the news reports about a potential U.S.-Iran deal circulated, Bitcoin surged 4% in the last 24 hours to trade at $66,821.91 at press time.
Ethereum surged more than 3% during the same period to trade at $1,820.04 at press time.
Oil prices tanked on the peace deal news, with WTI crude oil falling 5% to $80.48 a barrel and Brent crude oil falling 4.5% to $83.19 a barrel.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
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