Gold price nearly flat on the year as rate hike chances surge

• •Hey everyone, just read this article about gold prices being nearly flat for the year and wanted to get your take.
• •It's interesting how the rising rate hike chances are impacting things.
• •I remember back in '08 and '09, gold was a pretty reliable safe haven.

Hey everyone, just read this article about gold prices being nearly flat for the year and wanted to get your take. It's interesting how the rising rate hike chances are impacting things. I remember back in '08 and '09, gold was a pretty reliable safe haven. My wife and I even considered increasing ourทองholdings then, though we ultimately stuck with a smaller allocation. This article mentions spot gold dipping to $4,330 an ounce, which is its lowest since March. That’s a pretty significant drop, even if it's only 3% from the daily peak.

My portfolio has a small percentage in precious metals, mostly for diversification and as a hedge against inflation, especially thinking about our retirement goals down the line. I've always viewed gold as a long-term play, not something to trade actively. However, seeing the price get hammered like this makes me wonder if the old rules are shifting. With central banks potentially continuing to raise rates, that carry cost of holding gold becomes more of a factor, right?

What are your thoughts on this? Are any of you looking at this dip as a buying opportunity, or is it a sign to re-evaluate gold's place in a portfolio given the current economic climate? I'd love to hear your perspectives, especially from those who have been investing longer than I have.