Fed rate hike - what's everyone thinking for gold?
- •Okay, so the Fed just dropped the hammer again with another rate hike.
- •I know this has been the expectation, but it always makes me a little antsy looking at my Gold IRA.
- •I've got about $70k invested in physical gold through a SDIRA, and it's mostly for supplementing my government pension when I retire.
Okay, so the Fed just dropped the hammer again with another rate hike. I know this has been the expectation, but it always makes me a little antsy looking at my Gold IRA.
I've got about $70k invested in physical gold through a SDIRA, and it's mostly for supplementing my government pension when I retire. I'm based here in Albuquerque and honesty, the idea of just relying on the government for everything in retirement makes me nervous, so gold felt like a solid hedge. I started this whole thing about 3 years ago when inflation was really starting to ramp up.
My big question is, with these continued rate hikes, what's that going to do to gold prices in the short to medium term? Is it just going to continue to drag it down, or are we going to see a rebound once the Fed signals they're done? I'm trying to figure out if now's a good time to perhaps add a little more to my holdings, or if I should just sit tight and weather this storm. I've been trying to educate myself more, going through some of the resources on the Learning Center, but sometimes it just helps to hear what regular folks are actually doing or thinking.
Anyone else feeling this uncertainty? What's your strategy looking like for your gold holdings after this announcement?