Fed rate decision and my Gold IRA - feeling a bit antsy.
- •Okay, so the Fed rate decision yesterday has me a little more on edge than I expected.
- •I'm relatively new to this whole Gold IRA thing, only really funded my account with about $75k over the past 8 months or so.
- •Now I'm just watching the news and wondering if I timed this right.
Okay, so the Fed rate decision yesterday has me a little more on edge than I expected. I'm relatively new to this whole Gold IRA thing, only really funded my account with about $75k over the past 8 months or so. Most of my other investments are tied up in my small business here in Denver, so this gold allocation was supposed to be my safe haven, my hedge against all the inflation talk and general market weirdness. Now I'm just watching the news and wondering if I timed this right.
I know the general consensus is that higher rates aren't historically great for gold, but honestly, with inflation still a major concern, it feels like a bit of a tug-of-war. I'm honestly trying to get a better handle on the historical performance because my intuition tells me gold is still the way to go long-term. Has anyone else looked at something like the Gold vs Stocks Comparison tool? I've been playing around with it for the 10-year period, and while stocks have had some insane runs, gold has held its own pretty well during certain turbulent times.
My concern isn't about getting rich overnight with my Gold IRA, it's about preserving a chunk of my capital from the uncertainty. Is this just normal investor jitters, especially being new to precious metals, or are higher rates truly going to be a thorn in gold's side for the foreseeable future? Just looking for some perspective from others who've been in this game longer. Any thoughts?