Gold could hit $100,000 per ounce, says Robert Kiyosaki
What's the story
Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned of an impending stock market crash. He also predicts a massive surge in gold and silver prices. In a recent social media post, Kiyosaki cited veteran market strategist Jim Rickards's prediction that gold could eventually reach $100,000 per ounce. Currently, gold is trading at around $4,500 per ounce while silver is priced at approximately $75 per ounce.
Market insight
Kiyosaki's warning amid global economic uncertainties
Kiyosaki's comments come as global markets are already dealing with high geopolitical tensions, persistent inflation fears, rising government debt and uncertainty over central bank policy. He stressed that "the best investors are able to see the future and take action." His latest warning has reignited discussions about a possible major financial reset that may push investors toward hard assets like gold and silver.
Investment strategy
Gold prices fell on Friday
For years, Kiyosaki has been advocating for investing in real assets such as gold, silver, and Bitcoin instead of relying on paper currencies or traditional financial assets. His latest comments reinforce this long-standing view. Gold prices fell on Friday and were headed for a second consecutive weekly loss, as rising crude oil prices kept inflation worries elevated and strengthened expectations of a possible US interest rate hike.
Economic impact
Crude oil prices rise
Crude oil prices rose amid skepticism over the success of ongoing US-Iran peace talks, fueling fears of energy supply disruptions. Meanwhile, the benchmark US 10-year Treasury yields trimmed earlier declines and continued hovering near their highest levels in over a year. This has lowered appeal of non-yielding assets such as gold.