Robert Kiyosaki sees gold touching $35,000 per ounce
What's the story
Robert Kiyosaki, the author of Rich Dad Poor Dad, has made some bold predictions about the future of gold, silver, and cryptocurrencies. He believes we are nearing the end of a major financial bubble and that asset prices could skyrocket after a crash. Specifically, he predicts gold could hit $35,000 per ounce while silver may rise to $200 in the aftermath of a potential global financial crisis.
Crypto forecast
Bitcoin could reach $750,000
Kiyosaki also made aggressive forecasts for cryptocurrencies, predicting Bitcoin could hit $750,000 and Ethereum could reach $95,000 in the year after the next financial meltdown. His investment philosophy has always centered on hard assets and decentralized currencies as a buffer against inflation, currency debasement, and systemic financial risks. This latest warning further strengthens his long-held belief that traditional financial systems are still susceptible to shocks.
Market analysis
'Silver just made a massive breakout'
Meanwhile, economist Peter Schiff focused on silver's recent price action and the broader precious metals space. He said, "Silver just made a massive breakout, and the next explosive move could start any day." However, he also noted that gold and silver mining indices such as GDX and GDXJ have sharply corrected by some 25% from their recent highs.
Price surge
Gold gains on easing oil shipment fears
Gold prices rose slightly today, buoyed by easing fears over prolonged oil shipment disruptions. Spot gold was up 0.2% to $5,013.71 per ounce, while US gold futures for April delivery gained 0.3% to $5,018.10. Other precious metals such as silver (up 0.3% to $80.97 per ounce), platinum (up 0.9% to $2,133.93) and palladium (down 0.2% to $1,595.75) also saw slight movements in their respective rates amid geopolitical tensions in the Middle East.