Fed policy and its drama - Anyone else feeling this gold rollercoaster?
- •Man, the Fed announcements these days are giving me whiplash, and it feels like gold is riding right along with it.
- •When Powell talks hawkish, I brace myself, and when he hints at any dovishness, I feel like I can breathe again for a hot minute.
- •I remember when I first put in a chunk, around $75k, and everyone was saying gold was a safe haven.
Man, the Fed announcements these days are giving me whiplash, and it feels like gold is riding right along with it. My little Gold IRA, which I started about two years ago after listening to some execs at the office (I’m a secretary at one of the oil companies here in Tulsa, so I hear a lot), is sitting around the $150k mark and I've been watching it pretty closely. When Powell talks hawkish, I brace myself, and when he hints at any dovishness, I feel like I can breathe again for a hot minute. It’s wild.
I remember when I first put in a chunk, around $75k, and everyone was saying gold was a safe haven. It mostly has been, but these rate hike cycles really make you question things, don't they? I swear, every time they hike, I see a dip, then it recovers, then another dip. It’s not a straight line up like I maybe naively hoped it would be. I’ve probably put in an additional $20k or so in smaller chunks since then, trying to DCA down or just add exposure, depending on how I'm feeling about the market that week.
I know the prevailing wisdom is that higher rates are bad for non-yielding assets like gold, but sometimes it feels like the market has already priced it in, or there are other factors at play. Inflation, geopolitical stuff... it all feels like a big tangled mess. For those of you with larger or longer-term gold holdings, how are you interpreting the Fed's stance right now? Are you making any moves or just holding tight and riding it out?
I’m trying to stay calm and not overreact to every single piece of news, but it's hard when you have a significant portion of your retirement tied up in it. My next check-in with my advisor isn't for another month, so I'm curious to hear what other investors are thinking. Is anyone else starting to feel a little bit of Fed fatigue?