abrdn Physical Silver Shares ETF (ARCA:SIVR), ProShares Ultra Silver (ARCA:AGQ), iShares Silver Trust (ARCA:SLV) – 'Rich Dad, Poor Dad' Author Says, Amid Wide Market Crashes, 'Accumulate' This Commodity To Get 400% Return In Long-Run


Robert Kiyosaki, the author of “Rich Dad, Poor Dad”, is bullish on silver and has advised accumulating the commodity at a time when all other assets including bonds, stocks and real estate are crashing.

The View: Kiyosaki stated in his tweet silver is moving sideways and may remain at $20 levels in the times to come. He believes the commodity is set for a huge upward movement in the long term.

“TIME FOR POOR TO GET RICH. Stocks, bonds, mutual funds, ETF & Real Estate crashing. As PREDICTED Middle class being wiped out. Silver moving sidewards. Silver to stay at $20 for 3-5 years, then climb to $100 to $500. Everyone can afford silver even poor. Accumulate silver now,” the author said in his tweet.

Also Read: Alibaba, Baidu Slide Over 3% As Wall Street Horror Spreads To Hong Kong Stocks: Report Sparks Fears Of US-China Tensions Over Taiwan

What Happened: Recession fears led by aggressive rate hikes by central banks have been pushing commodity prices down over the last few months. After falling to over two-year lows in early September, silver prices are currently trading above the $19/Oz level.

Historical High: According to the Silver Institute, prices of silver bullion rose from $11 an ounce in September 1979 to $49.45 an ounce in January 1980 based on London PM Fix during the Hunt brothers’ accumulation of the commodity. Prices ultimately fell to below $11 an ounce two months later, it said.

Price Action: The iShares Silver Trust SLV has gained more than 7% over the last five days. The ProShares Ultra Silver AGQ is up more than 15% while the abrdn Physical Silver Shares ETF SIVR, too, has gained over 7% in the same period.

Photo courtesy: Gage Skidmore on Flickr


Image and article originally from www.benzinga.com. Read the original article here.