'Rich Dad, Poor Dad' Author Highlights Experts' Contrarian Views On Gold: 'Opposing Logic Makes You Smarter'

‘Rich Dad, Poor Dad' author Robert Kiyosaki has put forward interesting and divergent arguments on gold by experts Steve Van Metre and David Hunter, while saying it is important to consider opposing views and figure out the logic that drives buyers and sellers.

What Happened: "Sell gold now," Van Metre said in his YouTube video, stating that there is a very rare tactical pattern forming in gold that indicates prices of the metal are about to plummet.

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On the other hand, David Hunter told Small Caps that he predicts gold will hit the $20,000-mark while silver will touch $400-500 level by the end of the decade.

"Steve Van Metre says "Sell gold now." David Hunter says "Buy gold now." Who do you believe? Ans: Both smart men. All markets are made of buyers and sellers. Your job is to find out logic behind seller and buyer. Opposing logic makes you smarter which is more valuable than $," Kiyosaki tweeted.

Price Action: Kiyosaki's comments came at a time when gold reversed course from its rally to fall below the key $2,000-level, dragged by a stronger dollar and higher Treasury yields on Monday.

Spot gold continued to nudge the $2,000-mark during Tuesday morning Asian trade, at the time of writing. The SPDR Gold Trust GLD and the iShares Gold Trust IAU have gained close to 1% in last one month.

Carlo Alberto De Casa, external analyst at Kinesis Money, told Reuters the $1,980-$2,000 range is a promising support zone for gold.

Going forward, market participants will be eyeing comments by Federal Reserve officials this week for any clues regarding the central bank's policy path.

Photo: Courtesy of Wikimedia Commons

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