Gold breaking all time highs - what now?
- •Holy cow, gold just went bonkers!
- •Woke up this morning and saw it blew past $2100.
- •Been watching this happen over the last few weeks but today feels like a real moment.
Holy cow, gold just went bonkers! Woke up this morning and saw it blew past $2100. Been watching this happen over the last few weeks but today feels like a real moment. Honestly, I'm feeling a mix of stoked and a little apprehensive. My Gold IRA is sitting pretty nice right now, probably up around 10-15% since the start of the year on the gold holdings, which puts my whole portfolio (excluding my business, obviously) well over the $400k mark. Pretty sweet for something I initially got into just for stability.
As a construction guy, I just get tangible assets. Bricks, lumber, steel... and gold. You can touch it, you can hold it, it's not some ethereal number on a screen. That's why I went with physical gold coins for my IRA, mostly Eagles and a few Buffaloes. Don't want to deal with ETFs or paper gold; what's the point of a "gold IRA" if you don't actually own gold? I started diversifying into gold about 7 years ago, after seeing my old man get burned in the '08 crash. Thought it was a good long-term hedge against all the craziness, especially with inflation looming. Chicago real estate is wild, but gold feels like a different kind of anchor.
So, now that it's hitting these insane highs, what's everyone's take? Are we seeing a temporary spike, or is this the start of a much bigger run? Part of me wants to just hold tight and let it ride, but another part wonders if it's time to rebalance a little. I'm not looking to dump everything, but maybe take a little profit and put it into... what? More silver? Or just keep it as dry powder? My financial advisor is usually pretty conservative, but even he's been more bullish on precious metals lately.
Anyone else feeling this way? People who have been through these gold rallies before, what's your historical perspective? Is there a point where you start to consider it "overvalued" in the short term, even if you believe in its long-term stability? Would love to hear some thoughts, especially from other Gold IRA holders.