Gold breaking all-time highs - what now?
- •Holy hell, gold just blew past $2,300.
- •I remember scoffing at the permabears back when it was struggling to hold $1,800.
- •Looks like my conviction, and more importantly, my portfolio, are vindicated.
Holy hell, gold just blew past $2,300. I remember scoffing at the permabears back when it was struggling to hold $1,800. Looks like my conviction, and more importantly, my portfolio, are vindicated. For those of us who've been in this game for a while, especially with a decent chunk of our net worth tied up in physical and paper gold, what's everyone's take on this current run? Is this just the beginning of a parabolic move, or are we flirting with a short-term correction?
I started really building out my personal gold allocation back in '09 after the financial crisis, then again aggressively in late 2022 when I saw the writing on the wall with inflation and geopolitical instability. My initial investment in my Augusta account was around seven figures, and it's been a steady climb, but this recent surge is something else. I've got a significant percentage of my liquid wealth, probably in the low double-digits, in various gold vehicles, including a decent slug of physical in a vault down in Delaware and some GLD for instant liquidity. Living in Greenwich, I see a lot of my peers just chasing the latest tech fad, and while I have my allocations there too, gold has always been my bedrock.
My big question now is, for those of us with substantial positions, do we trim a little off the top? Or do we hold strong, expecting the macro picture to continue favoring precious metals? I'm talking actual capital preservation and growth here, not just dabbling. I'm leaning towards holding, given the insane amount of debt printing globally and the shaky geopolitical landscape, but it's always good to get some diverse opinions from folks who aren't just shilling their latest meme stock.
What are your personal strategies at these new highs? Anyone considering diversifying into platinum or silver for the next leg up, or is gold still the undisputed king for the foreseeable future? Appreciate any genuinely insightful perspectives.