Gold investors should make a bee line to buy gold now before the economy crashes and prices skyrocket – so says best selling author, Robert Kiyosaki. The respected finance expert says that if the economy and stock markets slump, gold prices will spike.
What makes this prediction notable is that a recession still remains on the cards for the U.S. economy, despite talk of a soft landing. Asset management company Schroders currently maintains a high probability of a recession. In a new briefing, portfolio manager Mihkel Kase said that a slowdown is expected towards the end of the year and into the start of 2024. He notes that the full impact of the Federal Reserve’s rate increases has yet to be felt, but that pain would be coming down the line.
Kase said, “The tightening in lending standards is also yet to bite, however it is clear that funding is becoming more expensive and less available. We believe this will eventually lead to a slowdown, despite uncertainty around the timing. Our recession probability model remains high, however given the real wage growth extension, we have pushed back our recession call to the end of 2023 or first quarter of 2024.”
This delay is good news if you’re yet to shore up your portfolio with gold as it gives you time to act to safeguard your position. Don’t delay further.
