Gold breaking all time highs - what now?
- •Holy moly, that run-up for gold over the last few weeks has been something else!
- •Watching it blast past previous all-time highs frankly caught me a little off guard, even though I've been bullish on hard assets for years.
- •I’ve put about $300k into it over that time, mostly focusing on U.S.
Holy moly, that run-up for gold over the last few weeks has been something else! Watching it blast past previous all-time highs frankly caught me a little off guard, even though I've been bullish on hard assets for years. I started really building out my Gold IRA back in late 2020/early 2021 when all the money printing was going on, and it’s been a solid anchor in my portfolio. I’ve put about $300k into it over that time, mostly focusing on U.S. Mint Eagles and Buffaloes for the bullion portion, alongside some choice numismatics I’ve snagged.
My gut tells me this isn't just a flash in the pan. Between global uncertainties, continued inflation concerns (even if the Fed says they’re getting it under control, my grocery bill in Cleveland begs to differ), and central banks buying hand over fist, it feels like the stage is set for continued strength. I’m a manufacturing exec, so I'm always looking at the fundamentals, and the supply/demand picture for physical gold seems pretty robust right now. Anyone else feeling that upward pressure is going to hold?
I’m wrestling with what my next move should be. Part of me wants to lock in some of these gains, but another part of me thinks we're just seeing the beginning of a larger move. For those of you who have been in this game longer, is this a time to add more, or should I be looking to rebalance? I’ve been considering diversifying a bit more into silver, but gold has always been my preference.
Also, sidebar, if you're on the fence about getting into a Gold IRA, or just wondering if your current setup qualifies for certain types of gold, check out the Eligibility Checker. It’s a good starting point for understanding the rules, especially with all the nuances around what's IRA-eligible. For me, it helped confirm I was on the right track with my choices anyway. What are everyone else's thoughts on gold's current trajectory?