Gold hit $2400 - Anyone else thinking about rebalancing?
- •Well, would ya look at that.
- •Gold just blew past $2400 an ounce.
- •Crazy to think about, considering where it was even a year or two ago.
Well, would ya look at that. Gold just blew past $2400 an ounce. Crazy to think about, considering where it was even a year or two ago. I remember buying into my Gold IRA when it was hovering around $1800-$1900, thinking that was a pretty good entry point. Now, here we are. It makes me wonder what the smart move is from here.
My portfolio's sitting around $180k right now, and a pretty significant chunk of that (maybe 25-30%) is in physical gold through my Gold IRA. I'm a horse farm owner out here in Louisville, and I've always been pretty practical about wealth – protect what you've got, and try to grow it steadily. Gold felt like that solid anchor. But with these new highs, part of me is itching to take some profits and rebalance a bit. Maybe diversify further into some other hard assets or even some well-vetted real estate plays.
On the other hand, my advisor is still pretty bullish, talking about continued inflation worries and geopolitical instability making gold an even more attractive safe haven. It's a tough call. Historically, when gold hits these kinds of peaks, you usually see some sort of correction, but who's to say what's "normal" anymore? What are others in a similar boat thinking? Are you holding tight, or are you considering trimming your gold positions?
I've got a decent amount in American Gold Eagles and Canadian Gold Maples, all stored securely. The thought of selling some of those coins… it feels pretty good with the profit, but also a little like letting go of a good thing. What's everyone's take on the future outlook for gold in the short to medium term after this run-up? Any Louisville folks weighing in? Always good to hear local perspectives too.