Gold Breaking All-Time Highs - What Now for Us?
- •Well, folks, gold has officially done it again.
- •Breaking all-time highs like it’s going out of style.
- •I remember back in '08 and '09, watching it climb and feeling pretty good about my positions, but this run feels different.
Well, folks, gold has officially done it again. Breaking all-time highs like it’s going out of style. I remember back in '08 and '09, watching it climb and feeling pretty good about my positions, but this run feels different. Been in the metal for over 20 years now, ever since my buddy Lou convinced me to put a chunk of my auto industry pension into physical gold. Best financial advice I ever got, honestly. My portfolio, pushing closer to that $1M mark, has certainly benefited. Makes you wonder if all those folks laughing at "gold bugs" back then are still laughing now.
My IRA's heavy on the gold side, as you can imagine, sitting pretty with a significant chunk of it in physical and some in mining stocks. I'm just outside of Detroit, so you see a lot of folks here who still remember the '08 crash clear as day. That really solidified my belief in hard assets. My question for all of you, especially those of you who've been in this game longer than a fresh coat of paint on a pickup truck: Is this just the beginning of another big leg up, or should we be looking to rebalance and take some profits off the table?
I mean, part of me is feeling pretty smug, seeing these numbers. It validates a lot of tough decisions when everyone around you is telling you to just stick with the S&P. But the other part of me, the one that remembers the dips as well as the peaks, is a little nervous. Are we getting into speculative territory, or is this a genuine indication of larger economic anxieties finally boiling over? What's your gut feeling, especially those of you with significant gold holdings?