The popular author of “Rich Dad Poor Dad”, Robert Kiyosaki, continuously suggested investors to invest in Gold, Silver and Bitcoin for the past few months. Recently he warned micro and macro investors that it is the last chance to buy Gold and Silver at lower prices.
He said, “Inflation is moving up. Interest rates are moving up. Stock market to crash sending Gold and Silver higher. May be the last chance to buy these assets at these low prices.”
Some users on social media platforms commented that Kiyosaki was giving the same suggestion in the past few years. They disagreed with famous author predictions, believing the price of the yellow metal would drop to the current level.
Previously he mentioned that he lost trust in the United States Federal Reserve and Treasury agencies and administrations controlling the US dollar; it may result in the expansion of digital currencies that are not under the control of administrations across the nation.
In October 2022, he tweeted, “Gold and Silver prices plunge as the Fed continues raising interest rates. Raising interest rates will kill the economy. Stock, bonds, and real estate will crash. The Fed will pivot. Buy Gold, Silver and Bitcoin before FED pivots.”
Earlier, he said the silver price would remain at $20 (USD) for 3-5 years, and it will increase from $100(USD) to $500(USD) in the upcoming years. It will be easy for anyone to afford Silver now.
From the past 2-3 weeks, Gold managed to trade at up $1,800 per ounce level, reaching a 4-month high. Since increasing interest rates, many investors and market analysts believe that Treasury yields consistently weaken the precious metal.
Higher interest rates might affect Gold prices in the future. But Gold and interest rates are unstable because Gold is traded on a global market.
How will the US Fed affect the crypto and stock market in 2023?
This year is marked as unlucky for the crypto market. Investors and crypto users faced the worst bear markets in the past few months due to the sudden collapse of FTX, Terra, and Celsius Network. The president and macro strategist at Bianco Research, Jim Bianco, said the United States federal reserve would not help cryptocurrencies’ price growth.
The Federal Reserve has mainly focused on combating inflation for the past two months. It reportedly said the US needs economic tightening to overcome inflation. According to CNBC, “Higher interest rates can weigh on publicly traded companies, particularly growth stocks in tech.”
At the G20 summit held in Bali, Indonesia, Janet Yellen stated, “over the next couple of years, I definitely think that inflation will come back down to levels closer to the normal levels we are accustomed to.”
