Gold at $2300! What’s everyone here doing now?
- •Well, folks, looks like our shiny friend is really strutting its stuff!
- •Gold hitting over $2300 an ounce...
- •I remember when I first started moving some of my retirement savings into gold after the 2008 crash, I thought getting in under $1000 was a steal.
Well, folks, looks like our shiny friend is really strutting its stuff! Gold hitting over $2300 an ounce... I remember when I first started moving some of my retirement savings into gold after the 2008 crash, I thought getting in under $1000 was a steal. Crazy to see how far it’s come. I was a teacher for over 30 years here in Phoenix, and that whole financial meltdown really spooked me. Didn't want to see my hard-earned pension contributions disappear.
I've got a decent chunk, maybe around $150k in my Gold IRA now, mostly in Eagles and Krugerrands. It's been a slow and steady climb, but this recent surge has me thinking. On one hand, it's great to see that security paying off. On the other, it makes me wonder – how much higher can it realistically go in the short term? Is now the time to maybe rebalance a bit, or do we hold tight for more? I'm firmly in the camp that gold is a long-term hedge, but even I get a little itch when I see these kinds of gains.
I was actually just playing around with that Gold vs Stocks Comparison tool the other day, looking at the 10-year performance. It's pretty eye-opening how well physical gold has stacked up, especially compared to some of the market volatility we’ve seen. It really reinforces why I chose this path in the first place. But with these new highs, it brings up new questions.
So, what’s the general sentiment out there? Are you guys selling off some profits, buying more on the dip (if it comes), or just sitting pretty and enjoying the ride? Any other retired folks like me feeling both thrilled and a little uncertain about what comes next? Love to hear some perspectives.