Kolkata: Gold and silver prices have been steadily going down for a few months since the peaks reached earlier in the year. Against this backdrop, Robert Kiyosaki, author of “Rich Dad, Poor Dad” and renowned investor, thinks that both gold and silver prices could see a significant increase in the coming years.
He said that instead of panicking about the recent decline, one should detect buying opportunities. Kiyosaki says that the global economy is going through a difficult period, and gold and silver could be a good investment option during such times.
Jim Rogers’ prediction
Citing legendary investor Jim Rogers, Robert Kiyosaki said that gold and silver prices could experience a “moon-rushing” rally in the future. However, he also acknowledged that a sharp price decline (retracement) would also be possible during this period. Kiyosaki said that he completely agrees with Jim Rogers’ opinion.
Both are of the opinion that with debt growing and inflation continuing, investors usually seek a safe haven. The dips in the price of the white metal and yellow metals are temporary and the eventual rally will benefit those who accumulate during dips. Both think retail investors should monitor the broader backdrop of central bank balance sheets, inflation rates and geopolitical risk which can generate higher demand for physical gold.
Buying in dips
According to Kiyosaki, gold and silver prices recently fell sharply. He claimed that gold fell from its highs, while silver also saw a significant decline. He says that many investors buy at high prices and sell when prices fall, while he added more gold and silver to his portfolio during this decline.
Concerns about economy and inflation
Kiyosaki says the global economy is facing serious challenges. He added that he doesn’t trust governments and central banks to address the current economic problems. He believes rising debt and inflation could continue to rise. He therefore posed the question to investors: whether they should buy at high prices and suffer losses or try to buy at low prices and reap long-term benefits.