Fed rate decision and my portfolio - feeling a bit antsy
- •Okay, so that Fed announcement today has me feeling a little… off.
- •I’ve got about $70k tied up in my Gold IRA, mostly in silver bars actually, and I've been watching the spot price like a hawk.
- •I started really building out my precious metals IRA about four years ago, right when things started getting a bit squirrelly with inflation.
Okay, so that Fed announcement today has me feeling a little… off. I’ve got about $70k tied up in my Gold IRA, mostly in silver bars actually, and I've been watching the spot price like a hawk. When Powell started talking about holding rates, my immediate thought was, "Alright, does this mean silver is about to get hammered, or will it finally catch a break?" I'm happy with my long-term strategy, especially teaching financial literacy here in Little Rock, but sometimes the short-term volatility makes you second guess everything.
I started really building out my precious metals IRA about four years ago, right when things started getting a bit squirrelly with inflation. The idea was to have a solid hedge against all the economic uncertainty, and honestly, it’s done its job pretty well. I've been eyeing adding more silver in particular because I feel like it's still undervalued compared to gold, especially with the industrial demand. But today's news just throws a wrench into that decision-making process.
My big question for everyone is: given the Fed's stance on rates, are you guys making any tactical moves? Are you holding steady, or are you seeing this as an opportunity to buy more silver, perhaps on a dip? I'm trying to stick to my strategy of dollar-cost averaging, but part of me wonders if I should be more aggressive right now, or if it's best to just sit tight and let things play out. Especially interested in what other silver investors are thinking.
I mean, as a school principal, I preach patience and diversification, but when it's your own money on the line, it's a whole different ballgame! Any insights or just shared commiseration would be great. Thinking about setting a limit order for some more 10oz bars if we see a dip below $23 again.