(Kitco News) As markets wrap up a very volatile year, this may be the last chance to buy gold and silver at such low prices, said the best-selling author of 'Rich Dad Poor Dad' Robert Kiyosaki.
The lows are likely in for gold and silver markets, with gold currently trading around $1,800 an ounce and silver around $24 an ounce, according to Kiyosaki.
In 2022, gold saw a wide trading range, rising above $2,000 an ounce in the spring and hitting lows near $1,630 an ounce in the fall.
Silver saw most of its gains in the first quarter of this year, hitting $27 an ounce, which is similar to gold's trading pattern. Then it witnessed losses for six months, hitting a 2-year low of $17.50 in September. In the fourth quarter, prices started to pick up as investors began to anticipate a pivot by the Federal Reserve.
Analyzing the macro environment, Kiyosaki suggested to his Twitter followers that the current price levels might be the cheapest option to buy precious metals before the rally kicks in.
"Gold over 1800. Silver over 24. Inflation moving up. Interest rates moving up. Stock market to crash, sending gold and silver higher. May be last chance to buy gold and silver at these low prices. Take care," he tweeted this week.
Kiyosaki is a big proponent of holding gold, silver, and Bitcoin in a portfolio.
"PENSIONS next global LEHMANN. What are you going to do? Will you get richer or poorer? People who own gold, silver, Bitcoin will get richer when Fed, Treasury, Wall Street pivot & print trillions of fake dollars. Fake money savers will be biggest losers. Don't be a loser," he said in another tweet earlier this month.
In another message to his followers, the best-selling author said it is time to use the Federal Reserve's aggressive stance to buy more gold, silver and Bitcoin.
"BUYING OPPORTUNITY … When FED pivots and drops interest rates as England just did, you will smile while others cry. Take care," he tweeted back in October.
Kiyosaki sees silver jumping to $100 and then to $500 within this decade, which is why he reminds his followers to buy more on a regular basis.
"Stocks, bonds, mutual funds, ETF & Real Estate crashing. As PREDICTED Middle class being wiped out. Silver to stay at $20 for 3-5 years, then climb to $100 to $500. Everyone can afford silver even poor. Accumulate silver now," Kiyosaki tweeted in September.
Kiyosaki also said that he owns a silver mine and silver coins, advising people to buy the physical metal.
"ELON's WEAKNESS is silver. All of his businesses burn silver. He will probably buy his own silver mine. I own a mine & real silver coin. Spot price silver low. Losers complain about silver's high premiums. Spot low because price manipulation. Be like Elon & me. Pay the premium," he said this month.
