Gold just hit $2,300. My take and strategy for the rest of 2024.

Brian Edwards

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Gold just hit $2,300. My take and strategy for the rest of 2024.

brian_edwards🌟Ultra (5m+)

about 8 hours ago

Key Takeaways

•Well, would you look at that.
•Gold breaching $2,300 today.
•Had a feeling this was coming, but it's always good to see the numbers doing what they're supposed to.

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Well, would you look at that. Gold breaching $2,300 today. Had a feeling this was coming, but it's always good to see the numbers doing what they're supposed to. Been holding a significant chunk of my portfolio in physical gold for years now – probably since '08 when things started looking a bit dodgy for paper assets. My real estate developments keep me busy, but the metals are the bedrock, you know?

I'm primarily in American Gold Eagles, some Buffaloes, and a decent stack of 10oz and kilo bars. Diversified into silver too, of course, but gold's the big one. My strategy has always been long-term preservation of wealth. With interest rates doing their dance and inflation still feeling hotter than the afternoon sun in July, I can't imagine pulling back on my Gold IRA holdings. The Fed's cuts are inevitable, and when they come, I expect gold to really shine. Is anyone else feeling super confident about the next 12-18 months for precious metals?

My portfolio's sitting north of $5 million, and a solid 15-20% of that is in metals, with a good chunk in those Eagles in a vault. It's not about making a quick buck for me; it's about not losing the capital I’ve built up over decades. Living in Aspen, I see a lot of folks who chase the latest tech fads, but when the market gets squirrely, it's the tangible assets that hold their value. For now, I'm just holding steady. Maybe even adding a bit more on any dips, though frankly, good dips are getting harder to find. Anyone else in a similar boat, just watching and waiting for the next surge?

3 comments

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Best Answer▲ 6 upvotes

daniel_wright💎Premium (500k-1m)

Congrats on the foresight! Holding since '08 is impressive. When you say "physical gold," are we talking coins, bars, or a mix of both in a Gold IRA, or something else entirely?

Comments (3)

gary_stewart📊Growing (50-100k)•less than a minute ago

Dude, I hear you! I've been eyeing gold for a while now too, though not as long as you. Got into a Gold IRA back in late 2022 when I saw inflation starting to really bite. My initial thought was just to hedge against that, but honestly, seeing it break $2,300 is pretty sweet validation. Definitely makes me feel good about that decision!

daniel_wright💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Congrats on the foresight! Holding since '08 is impressive. When you say "physical gold," are we talking coins, bars, or a mix of both in a Gold IRA, or something else entirely?

robert_thompson💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Congrats on the gains, always nice to see your investments pop! While $2300 is definitely a milestone, I'm personally a bit more cautious about predicting huge continued upward momentum for the rest of 2024. Seems like a lot of the recent push is geopolitical uncertainty and central bank buying. If things cool down internationally, or if interest rates stay higher for longer, we could see some headwinds. Still good to hold, of course, but maybe not the skyrocket some are expecting.

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