Benzinga - by Ramakrishnan M, Benzinga Editor.
Entrepreneur, businessman, and author Robert Kiyosaki, widely known for his “Rich Dad, Poor Dad” book, has ignited discussions in the investment realm with a bold declaration on precious metals.
What Happened: In a recent X post, Kiyosaki said, “BIB: Biggest Investment Bargain,” pointing the spotlight at silver.
He noted that silver’s value remains 50% below its all-time high, despite being increasingly sought after for green technologies like solar panels and electric vehicles.
Kiyosaki emphasized that silver, the second most utilized commodity globally after oil, has held its status as money for centuries.
BIB: Biggest Investment Bargain: Silver still 50% below all time high, in demand by greenies solar EVs. Silver 2nd most used commodity after oil. Silver has been money for centuries. Who can't afford 1 silver coin, yet most people prefer to save counterfeit fake dollars. Sad.— Robert Kiyosaki (@theRealKiyosaki) August 25, 2023
Why It Matters: Kiyosaki’s advocacy for silver comes at a time of intriguing dynamics in the precious metals market.
Gold prices dipped on Friday morning in the Asia session due to the resurgence of the U.S. dollar. Spot silver edged 0.4% lower to $24.04 per ounce, but was headed for its best week since July 14, as per a Reuters report.
Silver Futures YTD
Chart courtesy: Trading View
This movement in precious metals comes as investors eagerly await insights from Federal Reserve Chair Jerome Powell’s upcoming speech at Jackson Hole, which could provide crucial clues regarding interest rate trends.
The iShares Silver Trust ETF (NYSE:SLV) closed 0.8% down at $22.115 in the last session, and was up 0.07%, according to data from Benzinga Pro.
Read Next: Is Nvidia Stock A Better Bargain Than Tesla? Chipmaker’s Epic Q2 Faces Investor Caution
Photo via Gage Skidmore on Flickr
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
