Robert Kiyosaki recently made very positive forecasting on silver
He did not indicate any possible price targets, but made a reasoning that implies a strong appreciation in the price of the metal.
Robert Kiyosaki’s forecasting on silver
Kiyosaki argues that silver is a precious metal used in industry that is becoming increasingly rare as it is depleted. He called it “the best bargain as a long term investment,” better than any other.
During 2023, the price of silver has not yet moved much.
It started the year at about $24 an ounce, only to rise just above $26 in early May. It has since fallen, so much so that it is now below $23, although the annual low was reached in the first half of March, just below $20, when the banking crisis broke out in the US.
Thus it started at $24, fluctuated between $20 and $26, and then returned to $23. The first eight months of the year proved to be rather monotonous for the price of silver.
However, it turns out to be up from a year ago, when it was worth less than $20 an ounce. The 2022 low was $17.5 in late August.
It has practically been since July 2020, which is more than three years, that the price of silver has been sideways above $20. It can hardly be said to be an asset that allows for large gains in a short period of time.
Before the pandemic outbreak, its price was $18 an ounce, which is in line with last year’s low price. And even in 2011 it had risen above $40, which is double this year’s low.
This could mean that Kiyosaki currently considers it to be vastly undervalued, so much so that he suggests that he thinks a return to the highs of 12 years ago is also possible.
This prediction was made on Monday, 14 August, that is, before the crypto markets collapsed on Thursday, 17.
At that time Kiyosaki also expressed his opinion on Bitcoin, which he does quite often.
He hypothesized that in the event of a collapse of the world economy, the price of Bitcoin could reach $1 million, that of gold at $75,000 an ounce, and that of silver at $60.
However, he did not say how likely he thinks a collapse of the world economy is, so this prediction should be taken with a grain of salt.
Subsequently, due to fears about the resilience of the Chinese economy, the price of Bitcoin fell, while gold and silver first rose and then fell back to where they started.
It almost seems as if Kiyosaki considers Bitcoin to be a risk-off asset like gold and silver, while instead it is still quite clear that Bitcoin is a risk-on asset.
However, these predictions of his are long-term, so they cannot be compared with what happens in the short term.
Kiyosaki became famous for publishing the 1997 best seller Rich Dad Poor Dad, co-written with Sharon Lechter. Rich Dad Poor Dad remained on the New York Times bestseller list for more than six years, with more than 32 million copies sold in more than 109 countries.
The book was published before the dot com bubble burst, and it was successful because it proposed two lifestyles, both based on work, but one of which was poor, without investment, and one rich with education and investment.
For some time now Kiyosaki, who is now 76 years old, has also been interested in Bitcoin, in addition to classic investments in traditional markets. He is quite skeptical about the performance of the economy and financial markets, so much so that he often recommends investing in gold and Bitcoin precisely as forms of protection from the crisis.
To tell the truth, he is not famous for getting many predictions right, particularly on Bitcoin’s price trend, but being bullish, so far history in this respect has generally proven him right.
His success is probably mostly due to his ability to communicate, in a simple but seemingly thorough way. He has a large following, as he has nearly two and a half million followers on X (formerly Twitter).
However, he is not among those who are widely considered to be true Bitcoin experts, although as far as traditional markets are concerned, on the other hand, his more than 30 years of experience carries a lot of weight.
If his predictions turn out to be correct, we can expect yet more sharp declines in the financial markets, particularly with regard to risk-on assets.