Gold breaking all time highs - what now?
- •Gold's doing it again, another all-time high.
- •$2,279 this morning before pulling back slightly.
- •Started really getting into it back when the GFC hit.
Gold's doing it again, another all-time high. $2,279 this morning before pulling back slightly. I’ve been stacking metal for a while now, probably 15 years, mostly gold and silver obviously, but I’ve got a decent chunk of palladium too especially in the IRA. Started really getting into it back when the GFC hit. Saw my real estate holdings here in Aspen take a temporary but significant hit, and it was a wake-up call to diversify beyond just dirt and stocks.
My portfolio is north of $5M, and a good chunk of that isn't just in the physical stuff locked away, but also in my Gold IRA. I’ve always seen it as a hedge – protection against the inevitable insanity of market cycles and government spending. And it's paid off, big time. My initial palladium buys were around $1,500-$1,800 an ounce, so while it's had its moments, sitting at $1,050ish now, it's definitely the laggard of the precious metals. Silver's been solid, gold, well, look at it.
So, considering gold’s current run, what's everyone's play? Are you pulling profits from your Gold IRA? Rebalancing? Or are we all just holding on for the ride, anticipating the next leg up given the global instability and the dollar's seemingly endless decline? I'm personally just letting it ride. I didn't buy gold to flip it in a month; this is a long-term play for me. But given the economic climate, I'm genuinely curious if others are seeing this as a sign to lighten up on their positions or to double down.
Specifically with the palladium in my IRA – anyone else feeling like that’s the diamond in the rough waiting to pop? Or is it doomed to stay in triple digits while gold pushes towards $3k?