Robert Kiyosaki admitted he was wrong about gold’s recent direction, but the “Rich Dad Poor Dad” author still projects a price target of $35,000 within five years.

The candid admission lands as gold pulls back sharply from its all-time highs earlier this year.

Why Kiyosaki Says He Was Wrong About Gold

Kiyosaki has used X to share many such calls, and on June 29, he openly acknowledged that his recent short-term view of gold did not hold up across the market.

The admission contrasts with his June 25 post just days earlier. In that message, Kiyosaki had suggested that gold “just made the turn” and referenced analyst Jim Rickards’ similar high targets.

Furthermore, he urged followers to keep buying physical gold and silver amid worsening global macro conditions.

The current price action explains the reversal. Spot gold trades near $4,050 to $4,080 per ounce, down roughly 1.31% in the latest session.

Moreover, the metal has pulled back significantly from all-time highs around $5,600 earlier this year, amid a stronger US dollar and renewed rate uncertainty.

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Despite the dip, gold remains up sharply over longer periods. The metal has gained more than 21% in the past year and over 126% across five years.

As a result, the broader case for gold as an inflation and currency hedge remains intact across the wider investment community.

What the $35,000 Gold Target Really Means

Kiyosaki’s $35,000 gold target is not a precise near-term forecast. The number reflects his broader thesis tied to a potential systemic financial reset, including exploding global debt, fragile fiat currencies, and what he calls the biggest bubble bust in history coming across global markets.

In his view, gold will be revalued dramatically once paper assets falter. Furthermore, he often cites his own purchases of precious metals at around $300 per ounce during the early 2000s bull market.

He also frequently quotes JP Morgan’s famous line that gold is money and everything else is credit.

The number itself implies enormous economic turmoil. A move from $4,050 to $35,000 per ounce would represent a roughly 760% increase.

As a result, the projection only makes sense under specific conditions, including sustained high inflation, eroding confidence in government debt, or a major shift in dollar reserves.

Critics push back hard on the call. Detractors point to Kiyosaki’s history of dramatic predictions, some of which have gone unfulfilled, and question the feasibility of such an aggressive target.

Moreover, his occasional reversals on short-term direction draw additional scrutiny from skeptical analysts and traders across both gold and crypto circles.

The bigger message is one of patience. Kiyosaki emphasized that profits are made when you buy, not when you sell. He encourages investors to think long-term and ignore daily volatility.

Whether or not gold reaches $35,000, his recent admission also reminds markets that even prominent voices face uncertainty.

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Source: BeInCrypto