'Rich Dad, Poor Dad' Author Says, Amid Wide Market Crashes, 'Accumulate' This Commodity To Get 400% Return In Long-Run

Robert Kiyosaki, the author of “Rich Dad, Poor Dad”, was bullish on silver and has advised accumulating the commodity at a time when all other assets including bonds, stocks and real estate are crashing in September 2022.

The View: Kiyosaki stated in his tweet silver was moving sideways and may remain at $20 levels in the times to come. He believed the commodity was set for a huge upward movement in the long term.

“TIME FOR POOR TO GET RICH. Stocks, bonds, mutual funds, ETF & Real Estate crashing. As PREDICTED Middle class being wiped out. Silver moving sidewards. Silver to stay at $20 for 3-5 years, then climb to $100 to $500. Everyone can afford silver even poor. Accumulate silver now,” the author said in his tweet.

Also Read: Alibaba, Baidu Slide Over 3% As Wall Street Horror Spreads To Hong Kong Stocks: Report Sparks Fears Of US-China Tensions Over Taiwan

What Happened: Recession fears led by aggressive rate hikes by central banks had been pushing commodity prices down over the last few months. After falling to over two-year lows in early September, silver prices were trading above the $19/Oz level.

Historical High: According to the Silver Institute, prices of silver bullion rose from $11 an ounce in September 1979 to $49.45 an ounce in January 1980 based on London PM Fix during the Hunt brothers’ accumulation of the commodity. Prices ultimately fell to below $11 an ounce two months later, it said.

This story was originally published on Sept. 13, 2022.

Photo courtesy: Gage Skidmore on Flickr

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsSector ETFsCommoditiesMarketsETFsICYMIRich Dad Poor DadRobert KiyosakiSilverStock Market Crash
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!