Fed rate decision and my Gold IRA: Thoughts?
- •I’m pretty new to this – just started it up earlier this year with about $15k rolled over.
- •My main goal was diversification and a hedge against inflation, especially seeing some of the economic forecasts for the next few years.
- •Being based here in Charleston, I see a lot of growth, but also a rapidly increasing cost of living, so I’m trying to plan ahead.
Okay, so the Fed just held rates steady, which honestly, wasn't a huge shocker, but I'm trying to figure out what this really means for my portfolio, especially my nascent Gold IRA. I’m pretty new to this – just started it up earlier this year with about $15k rolled over. My main goal was diversification and a hedge against inflation, especially seeing some of the economic forecasts for the next few years. Being based here in Charleston, I see a lot of growth, but also a rapidly increasing cost of living, so I’m trying to plan ahead.
My thinking was that higher rates might make gold less attractive since it doesn't offer a yield, and now that they've paused, does that change the calculus? My gold custodian was pretty bullish on gold either way when I was setting things up, but obviously, they have a vested interest.
I’m still building out my full retirement plan, but this Gold IRA is a cornerstone for the precious metals part of it. I’m wondering if anyone else with a precious metals IRA around my portfolio size (planning to grow it to maybe $30-40k in the next 5-7 years) is adjusting their strategy, or if this rate decision is mostly just noise in the long run.
Are you guys holding steady, buying more on potential dips, or thinking about rebalancing at all based on the Fed's stance? Any thoughts or experiences on how these interest rate decisions have impacted your gold holdings historically would be awesome to hear!