Investing.com – Renowned author of the bestselling Rich Dad Poor Dad book, Robert Kiyosaki, expects it to rise to 3,800 this year, while it will reach $75.
Gold towards the 3800 and stocks will fall
Robert Kiyosaki shared his predictions about how high he thinks gold and silver prices will be in 2023.
Last week, he warned investors that it might be their last chance to buy gold and silver at low prices. He expects the stock market to crash, which will lead to higher gold and silver prices.
Kiyosaki predicted that the price of gold would rise to $3,800 this year, while silver would reach $75. At the time of writing, it was trading at $1,840.30 while it was at $23.54.
Kiyosaki has said several times that he does not trust the Biden administration, the Treasury Department, and Wall Street.
The stock, bond and real estate markets are expected to crash as the Federal Reserve continues to raise rates to combat inflation.
What about digital currencies?
Besides gold and silver, Kiyosaki also recommends investing in gold. He recently said that bitcoin investors will get richer when Fed policy shifts. The famous author also noted that he is a Bitcoin investor, not a trader, so he gets excited when the Bitcoin price hits a new low. On Saturday, he said he was buying more bitcoin, warning that the Securities and Exchange Commission (SEC) would crush most of the others with its regulations and only bitcoin would be left.
Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lichter. It was on the New York Times bestseller list for more than six years. More than 32 million copies of the book have been sold in more than 51 languages in more than 109 countries.
Other expectations.. towards the 4000?
It could rise to 4,000 an ounce in 2023 even as higher interest rates and recession fears keep markets volatile, said Joerg Kenner, managing director and chief investment officer at Swiss Asia Capital.
He stressed that there is a good chance that the gold market will see a big move, adding that “it will not be 10% or 20% only,” but one that “will really reach new heights.”
Keener said many economies could experience a “bit of a slump” in the first quarter, which would result in many central banks slowing the pace of interest rate hikes and immediately making gold more attractive. He said that gold is also the only asset that every central bank owns.
Another opinion.. Gold will not reach these levels
Despite strong demand for gold, Kenny Polkari, chief market analyst at Slatestone Wealth, disagreed that prices could double next year.
“I don’t have a gold price target of $4,000, although I would love to see it go there,” Polkari said.
Polkari argued that gold prices will see some decline and resistance at $1900 an ounce. He said prices would be determined by how inflation responds to higher interest rates globally.
“I love gold. I’ve always loved gold.” “Gold should be part of your portfolio. I think it will be better, but I don’t have a $4,000 price target.”
Stay informed about the market..and keep the news of the economy always close to you
Investing offers a comprehensive economic service of live data, streaming news, real-time alerts, private portfolios and tools to track your investment on our website or app.
You can follow us on all social media YouTube: https://www.youtube.com/@investingcomsa