Fed holds, and I'm feeling cautiously optimistic about my platinum play
- •Well, the Fed finally made their move, or rather, lack thereof, keeping rates steady.
- •On one hand, part of me was hoping for a hike just to get it over with, rip the band-aid off, you know?
- •But on the other, for my platinum holdings, I'm feeling a little relief.
Well, the Fed finally made their move, or rather, lack thereof, keeping rates steady. On one hand, part of me was hoping for a hike just to get it over with, rip the band-aid off, you know? But on the other, for my platinum holdings, I'm feeling a little relief. I’ve gone pretty heavy on platinum in my Precious Metals IRA – probably about 15% of my 350k portfolio is tied up there, with a chunk in gold and silver too, of course. For a while, the speculation on rates had me a little antsy, wondering if I should have shifted more into something else.
I’m pretty heavily invested in the long game here, not day trading. My goal is to pass this down, a real generational wealth thing, much like how some of these Kentucky distilleries have been around for centuries. I mean, platinum's got that industrial demand angle that gold doesn't quite replicate, which I find appealing from a diversification standpoint. Plus, the recent supply chain issues and geopolitical stuff just scream "scarcity premium" to me. I've heard some talk about platinum getting a boost from hydrogen tech too – anyone else looking at that as a significant driver in the coming years?
The bourbon industry, where I spend my days, is all about long-term vision, aging, and knowing when to hold. It feels a lot like how I view precious metals. I've been building this IRA for about seven years now, slowly diversifying from what was mostly just stocks and some real estate here in Lexington. It’s given me a surprising amount of peace of mind to have something tangible that isn't beholden to every twitch of the stock market. Now that the Fed decision is out, albeit a non-decision, what are you all thinking for platinum? Any big plays or significant shifts you're considering?