Getting a little antsy with gold lately, anyone else? And
- •Been watching the gold price pretty closely the past few weeks, and gotta say, it's making me a little antsy.
- •I’ve currently got about 15% of my 700k portfolio in a Gold IRA, mostly American Gold Eagles and some Canadian Maples.
- •I set that up a few years ago when I first started thinking seriously about succession planning for my logistics company here in Memphis.
Been watching the gold price pretty closely the past few weeks, and gotta say, it's making me a little antsy. I know it's climbed a good bit this year, and that's great for my portfolio, but seeing the recent dips then quick recoveries, it feels a bit… volatile compared to what I'm used to. I’ve currently got about 15% of my 700k portfolio in a Gold IRA, mostly American Gold Eagles and some Canadian Maples. I set that up a few years ago when I first started thinking seriously about succession planning for my logistics company here in Memphis. Wanted a good hedge against inflation and market uncertainty as I look to wind down over the next 5-7 years.
My original thought was just to hold long-term, essentially until I step away completely from the business, aiming for capital preservation rather than aggressive gains. But now I'm wondering if I should be more active. I’ve seen some analyses suggesting we could see gold push $2500, maybe even $3000 this year with all the geopolitical stuff and central bank buying. If that happens, part of me wants to lock in some of those profits. On the flip side, what if I sell and it just keeps climbing?
My current strategy for 2024 is to reassess once it hits $2400. If it stabilizes there for a solid few weeks, I might consider taking 25% of my gold holdings and diversifying into a few solid dividend-paying stocks, or even exploring some regional real estate opportunities here in the Southeast. Not looking to dump it all, but maybe rebalance a bit. The thought of potentially leaving some serious profits on the table if I just sit on it is bugging me. Anyone else in a similar boat, or got any insights on how you’re managing gold in your portfolio right now?