• Robert Kiyosaki warned gold prices could be heading towards a massive correction, dropping to $1000.
• He reaffirmed his stance that “cash is trash” and his belief in the yellow metal as well as bitcoin.
• The precious metal has been long praised as the go-to safe haven investment tool, given its history and positive performance in times of economic uncertainty.

Robert Kiyosaki Warns Gold Prices Could Drop to $1000

Rich Dad, Poor Dad author Robert Kiyosaki has recently doubled down on his support for Bitcoin while warning that gold prices could tumble to just $1000 per ounce. Quoting Portfolio Shield’s inventor Steven Van Metre, Kiyosaki suggested that a massive correction was on its way for the precious metal. Despite this warning though, he remained confident that both gold and Bitcoin were worthy investments.

Gold’s History of Performance in Uncertain Times

Gold has long been considered a safe haven investment during times of economic uncertainty due to its consistent historical performance in such situations. This has proven true during the recent COVID-19 pandemic with the bullion hitting an all-time high at over $2000 per ounce when it first broke out before dropping back down below $1700 several months later. After subsequent surges and corrections, gold is currently hovering around $2000 per ounce once again despite not quite reaching its ATH yet again.

Van Metre’s Analysis of SPDR Gold Shares

Steven Van Metre recently analyzed the SPDR Gold Shares (GLD) and concluded that their price was likely to suffer further corrections after noticing negative signals from both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). According to Van Metre’s analysis, his RSI had dropped significantly while his MACD showed a „negative divergence“ which suggests bear market conditions are looming ahead for GLD investors.

Kiyosaki Doubles Down on Support for Gold & Bitcoin

Despite these warnings however, Robert Kiyosaki remains confident about both gold and Bitcoin being strong investments for those looking for safety from inflationary pressures created by governments printing money out of thin air during periods of crisis or recessionary trends like we’re seeing now worldwide due to COVID-19 lockdowns. He urged investors not to put all their eggs in one basket but rather diversify their portfolios with precious metals along with digital assets such as cryptocurrencies in order to hedge against risks posed by traditional markets like stocks or bonds which could suffer sharp drops if global economic conditions continue deteriorating amidst pandemics or geopolitical tensions between major nations like what we’re seeing right now between Russia & Ukraine or China & India over territorial issues etc…

The Bottom Line

In conclusion it seems clear that although Robert Kiyosaki may be expecting a significant downward correction in gold prices soon, he still believes it will remain an important asset class worth investing into along with digital assets such as cryptocurrencies including Bitcoin which have also seen tremendous growth over recent years despite experiencing some turbulence here & there due largely to government regulations trying desperately catch up with decentralized technologies innovating faster than regulators can keep up with them nowadays!

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