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Investing.com – Robert Kiyosaki, noted author of the bestselling book Rich Dad Poor Dad, predicts it will rise to $3,800 this year and hit $75.
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Gold towards 3800 and shares will go down
Robert Kiyosaki has shared his predictions on how high the price of gold and silver will be in 2023.
Last week, he warned investors that it may be their last chance to buy cheap gold and silver. He expects the stock market to crash, which will lead to higher gold and silver prices.
Kiyosaki predicted that the price of gold will rise to $3,800 this year, while silver will reach $75. At the time of writing, it was trading at $1,840.30 while it was at $23.54.
Kiyosaki has repeatedly said that he does not trust the Biden administration, the Treasury Department and Wall Street.
Stock, bond and real estate markets are expected to tumble as the Federal Reserve continues to hike rates to fight inflation.
What about digital currencies?
In addition to gold and silver, Kiyosaki also recommends investing in gold. He recently said that bitcoin investors will get richer when Fed policy changes. 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 others with its regulations and he would be left with only bitcoin.
Rich Dad Poor Dad is a 1997 book written by Kiyosaki and Sharon Lichter. It has been 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 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’s a good chance the gold market will see a big move, adding that “it’s not just going to be 10% or 20%” but that it “really reaches new heights.”
Keener said many economies could experience a “slump” in the first quarter, which would lead many central banks to slow the pace of interest rate hikes and make gold more attractive immediately. He said gold is also the only asset that any central bank owns.
Another opinion.. Gold will not reach these levels
Despite strong demand for gold, Kenny Polkari, chief market analyst at Slatestone Wealth, disagrees that prices could double next year.
“I don’t have a gold price target of $4,000, although I would like 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 get better, but I don’t have a $4,000 price target.”
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