Gold breaking ATHs - my thoughts and question for the group
- •Well, gold's doing its thing again, huh?
- •Another all-time high.
- •I've been watching my Gold IRA tick up over the past few weeks and it's certainly a nice feeling to see those numbers.
Well, gold's doing its thing again, huh? Another all-time high. I've been watching my Gold IRA tick up over the past few weeks and it's certainly a nice feeling to see those numbers. I've got a decent chunk of change in there, probably around 20-25% of my total portfolio, so we're talking maybe $150k tied up in physical gold. Been holding for a few years now, ever since I started really thinking about succession planning for my logistics company down here in Memphis. Started with a standard 401k a long time ago, but once I got serious about moving out of the day-to-day, diversifying into something more tangible just made sense.
My big question now, and I'm genuinely curious what some of you more experienced folks are thinking, is what's the play from here? Do we hang tight and ride the wave, expecting it to keep climbing with all the global uncertainty, inflation jitters, and election madness on the horizon? Or is this a prime opportunity to rebalance slightly, maybe take some gains off the table and shift a portion into something else? I'm not looking to dump my gold by any means, but always open to smart moves.
Got a couple of friends who are totally convinced it's going to hit $3k before the year is out, but that just feels a bit… optimistic to me. Then again, I didn't expect it to blow past $2300 this quickly either. I usually lean towards a long-term hold with my precious metals, but these kinds of jumps always make me second-guess whether I should be more active. What's everyone else in a similar boat doing, especially those with larger positions?