Gold just hit all-time highs - what's everyone doing now?
- •Okay, so gold just blew through its previous all-time high, and I'm sitting here in SLC wondering what the general sentiment is.
- •I've been advising clients who've been in Gold IRAs for a while, and obviously, they're feeling pretty good right about now.
- •For those of you who've been holding, are you taking some profits?
Okay, so gold just blew through its previous all-time high, and I'm sitting here in SLC wondering what the general sentiment is. I've been advising clients who've been in Gold IRAs for a while, and obviously, they're feeling pretty good right about now. My own portfolio, which is largely in precious metals (north of $350k currently, with a good chunk in physical gold held in my IRA), is looking fantastic, but it also makes me pause and think.
My strategy has always been long-term diversification and inflation protection, and gold has certainly delivered on that front, especially with how wonky the economy has been. I've always seen it as a hedge against market volatility and geopolitical uncertainty, which, let's be honest, there's no shortage of either these days. But now that it's this high, do people see it pulling back significantly, or is this the new floor with all the global instability and central bank buying?
For those of you who've been holding, are you taking some profits? Rebalancing? Or just letting it ride? I'm debating whether to advise some clients to trim a small percentage to lock in gains and reallocate, or if the smarter move is to hold staunch given the current economic climate. Would love to hear what other long-term gold investors are considering at these levels. Any thoughts on where we go from here?