Fed keeping rates high - how's everyone else positioning their gold?
- •I've been watching the Fed with one eye open, and honestly, Jerome Powell sounds like he's dug his heels in.
- •For me, as someone who runs a construction company right here in Chicago, I've always been a big believer in tangible assets.
- •Bricks, mortar, and yes, gold.
I've been watching the Fed with one eye open, and honestly, Jerome Powell sounds like he's dug his heels in. "Higher for longer" seems to be the mantra, and while I get the anti-inflation play, it definitely makes you think about how that impacts our precious metals.
For me, as someone who runs a construction company right here in Chicago, I've always been a big believer in tangible assets. Bricks, mortar, and yes, gold. It's why a good chunk of my portfolio – we're talking a solid six-figure amount, probably close to 300k at this point – is tied up in a Gold IRA. I like knowing that even if the stock market goes for a joyride, I've got something real that's held value for millennia. The last few years have been a wild ride, and I haven't regretted that decision for a second.
My concern with sustained high rates is multi-faceted. On one hand, a strong dollar usually isn't gold's best friend. On the other, if the economy does hit the brakes hard because of these rates, then gold could really shine as a safe haven. It feels like a constant balancing act. Are you guys diversifying further within your precious metals? Or are you holding steady because you see the long game for gold despite the Fed's current stance?
Curious to hear how others with significant gold exposure are feeling about the current economic climate and the Fed's insistence on these rate hikes. What are your personal strategies right now? Are you buying more on dips, or just riding it out?