Fed just hiked rates again - anyone else feeling the
- •Okay, so another Fed rate hike.
- •I know it was expected, but honestly, every time Jerome Powell opens his mouth these days I get a little flutter of anxiety in my stomach.
- •I feel like I made a smart move getting into precious metals, especially with inflation still being a monster.
Okay, so another Fed rate hike. I know it was expected, but honestly, every time Jerome Powell opens his mouth these days I get a little flutter of anxiety in my stomach. I just converted a good chunk of my old 401k – about $75k – into a Gold IRA, with a decent chunk of that specifically in Palladium, earlier this year. My financial advisor here in Nashville had been preaching diversification forever, especially with everything going on, and I finally pulled the trigger. Being in the music industry, my income can be a bit feast or famine, so seeing this part of my retirement plan take a hit or even just flatten out is definitely not ideal.
I feel like I made a smart move getting into precious metals, especially with inflation still being a monster. But now with these rate hikes, I'm wondering how much it's really going to impact palladium specifically. Gold seems steadier, but palladium has those industrial uses, so I keep hoping that demand will hold up. Has anyone else who's been in a precious metals IRA for a while noticed a significant correlation between Fed decisions and their palladium holdings? Or am I just overthinking it because I'm relatively new to this whole game?
I tried doing some digging online, but honestly, there's so much noise out there. A lot of it feels like clickbait or just overly complicated economic jargon. I found a "Gold IRA Quiz" over at quiz.goldirablueprint.com/?forum the other day when I was first looking into all this, and it was actually pretty helpful for understanding the basics of different precious metals. But now I'm past the basics and into the "OMG, what now?" phase.
Just looking for some shared experiences or insights from others. Is this just par for the course with precious metals and I need to chill out, or should I be genuinely concerned about my $20k or so in palladium right now?