Gold Drops ‘Rich Dad, Poor Dad’ Author: Here’s Why Shares of iShares Gold Trust (ARCA:IAU), SPDR Gold Trust (ARCA:GLD)

,rich Dad Poor Dad’ Author robert kiyosaki believes that Even if gold drops to $1,000 an ounce, it will still have buyers in the form of the yellow metal, silver and silver. Bitcoin BTC/USD is real money while cash is garbage.

What happened: Kiyosaki’s comments follow expert steven van metre Comment in his recent YouTube Video Where he said that gold prices are going to fall.

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“Gold to crash. Steve Van Meter (sic) who I respect predicts gold to fall to $1000. He says the markets are tired of waiting for gold to go higher. If gold If it drops to $1000 I will buy more. I am not an investor. Trader. To me, gold, silver and bitcoin are real money. To me cash is trash,” he tweeted.

Last week, Kiyosaki cited conflicting arguments on gold by Van Meter and david huntersaying that it is important to consider opposing views and find out The logic that drives buyers and sellers,

Price Action: Gold prices declined sharply on Friday, dragged by aggressive comments made by federal Reserve Officials who strengthened the bet for at least one more interest rate hike. Two central bank officials on Thursday reiterated the need for more interest rate hikes to rein in inflation, as the Fed prepares to enter an April 22 to May 4 silence period before its next monetary policy announcement.

Bob Haberkorn, at Senior Market Strategist rjo futures, told Reuters last week that while a rate hike would initially reduce gold’s appeal, an eventual halving would push gold to its most recent high. “…the Fed has a breaking point where they can no longer raise rates further without causing significant damage to the economy,” he said.

Spot gold was trading at $1,980 an ounce during Asian trade on Monday morning after crossing the $2,000 an ounce mark last week. In recent days, many experts have been insisting that gold was ready to move above the level of $2,000 an ounce. However, the yellow metal is certainly finding it difficult to breach and rally beyond the mark.

SPDR Gold Trust GLD And this iShares Gold Trust IAU It had closed down about one per cent on Friday.

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