The gold price story moved quickly this week, and even one of its loudest supporters ended up admitting he got the timing wrong. It started on June 20 when Robert Kiyosaki revealed he was watching both Bitcoin and gold technical charts closely and planned to buy once the decline reversed. While the original comments mentioned both assets, his attention soon shifted almost entirely toward precious metals.
By June 24, Kiyosaki explained that falling prices alone don’t create buying opportunities. Instead, he argued investors should study the broader economic “neighborhood” surrounding an asset rather than focus only on price charts.
He compared gold to buying a house in a struggling neighborhood. A lower price, according to his argument, means little if the surrounding environment continues deteriorating.
He also reminded his community that much of his gold holdings were accumulated around the $300 level during the early 2000s bull market.
Then came June 25. Robert Kiyosaki announced that gold has finally “made the turn” and declared that both gold and silver could be entering a prolonged bull market, but in this post, he was only sure about metals and didn’t say anything about Bitcoin or crypto, which many were expecting.
He further reiterated his expectations in the post, stating that gold could eventually hit $35,000 and pointing to growing global debt concerns as a long-term catalyst.
Two days later, on June 26, he doubled down after claiming gold had risen $62 since his purpose, saying he may have successfully identified the bottom using technical analysis.
The celebration didn’t last long. On June 29, Kiyosaki returned with a very different message: “I was wrong. Gold still crashing.”
Rather than defending the call, he framed the mistake as part of investing, arguing that profits are made when buying rather than selling and reiterating his belief that gold could still reach $35,000 within five years.
Since markets have a habit of humbling even the most confident forecasts. This week, the gold price provided another reminder that timing a reversal and identifying a long-term trend are often two very different things.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Shares of Strategy, the largest corporate holder of Bitcoin, fell 4% after index provider MSCI…
David Schwartz, one of the original architects of the XRP Ledger, says the network’s long-term…
Deutsche Bank plans to launch cryptocurrency custody services within weeks, starting with Bitcoin (BTC) and…
Story Highlights The current price of Verasity is . The VRA price could reach a…
The global space economy is entering a new era and Space Exploration Technologies Corp. (NASDAQ:…
James Thorne has seen this trade before, and he believes it is about to happen…
