Investor and entrepreneur Robert Kiyosaki has shared important advice for investors amid a sharp fluctuation in gold and silver in the past few days. The popular author, known for his book ‘Rich Dad, Poor Dad', in a post on X on Friday, revealed that he is patiently waiting to invest in assets like gold once the levels are right again.
“As I posted on X earlier. I stopped buying silver at $60. I stopped buying Bitcoin at $6000. I stopped buying gold at $300. I have sold some Bitcoin and some gold. I hate selling because I hate paying capital gain taxes. Today…. I wait patiently for new bottoms for gold and Bitcoin, then I may buy again,” he said in a post on X.
Kiyosaki continued in his post that he will share an update with his followers if he starts buying these assets again.
The author-entrepreneur also reminded his followers of a “Rich Dad lesson”: “Your profit is made when you buy… not when you sell.”
According to Kiyosaki, beyond the prices of these assets, there are “bigger” problems that are a challenge in his investment journey.
“The bigger problem is the national debt of the USA. The real debt is $38 trillion and $250 trillion when social security and other Marxist programs such as Medicare are counted. Patience and vigilance and continual study on YouTube may be your smartest money habit today,” he said.
Towards the end of his post, Kiyosaki also revealed at what levels he plans to buy gold and silver again.
“I will buy more silver at $74 and gold at $4,000. I have enough Ethereum for now. I will buy more,” he posted.
He also predicted rough times ahead and urged investors to stay cautious. “The real problem is the Fed, our incompetent leaders, and our criminal banksters who rip us off via our fake dollars. Rough times ahead. Take care,” he concluded his post.
ALSO READ | Here's How A Simple One-Year SIP Pause Could Cost You Rs 25 Lakh
Gold, Silver Prices Tumble From Recent Peak
Kiyosaki's comments come amid a sharp fluctuation in precious metal prices in the past few days due to multiple factors. Gold rebounded on Friday after a sharp selloff the previous session, as global equities fell and US-Iran tensions persisted.
According to Reuters, spot gold rose 1.9% to $4,859.43 per ounce at 9:23 (GMT) on Friday (around 3 p.m. IST). On the other hand, Spot silver advanced 4.2% to $74.22 an ounce.
Despite the recovery, gold prices remain below the record high of $5,594.82 per ounce, reached at the end of January.
In India, gold prices stood at Rs 15,371 per gram for 24-karat purity on Friday, according to the GoodReturns website.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.