Gold just smashed all-time highs... and my advisor is

Paul Hill

Back to forum

🪙 Gold Coins

Gold just smashed all-time highs... and my advisor is

paul_hill🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•Okay, so gold has just absolutely soared past its previous all-time highs, and honestly, it’s a pretty wild feeling.
•I started really getting serious about it back before COVID, so I've seen some decent gains, but nothing like this.
•I just had a check-in with her, and she’s still strongly advising me to hold despite the insane run-up.

Compare top Gold IRA companies — free

Okay, so gold has just absolutely soared past its previous all-time highs, and honestly, it’s a pretty wild feeling. I mean, I’ve been building up my Gold IRA for a while now – probably sitting around the high end of that $250-500k range with my precious metals portion. My financial advisor here in Salt Lake City has been a huge proponent of physical gold as a hedge, especially with all the market volatility we’ve seen lately. I started really getting serious about it back before COVID, so I've seen some decent gains, but nothing like this.

I just had a check-in with her, and she’s still strongly advising me to hold despite the insane run-up. Her reasoning is that the underlying economic issues haven’t magically disappeared, inflation is still sticky, and central banks are still accumulating like crazy. She sees this as less of a speculative bubble and more of a repricing due to continued global uncertainty and devaluation of fiat currencies. Makes sense to me, especially when I think about how much my grocery bill has gone up.

My gut is screaming take some profits, but my head (and my advisor) is saying stay put for the long game. I’m thinking about the potential for further upside, especially if the geopolitical landscape continues to be a mess. Plus, the tax implications of selling out of an IRA are a whole other headache I’d rather avoid if I don’t absolutely need to. Anyone else in a similar boat, watching their gold IRA balance climb and wondering what the heck to do? Thinking specifically about those of us who bought some of these gold coins a while back – what’s your strategy now?

It’s hard not to feel a bit giddy, but also a little anxious. This past year has definitely made me appreciate having a portion of my portfolio outside of stocks, that’s for sure. Just curious what other gold bugs are thinking about this unprecedented move. Are you holding too, or are you looking at rebalancing with these new highs?

213

4 comments

The retirement loophole most advisors won't mention

You can move your 401(k) into physical gold — tax-free. Here's the step-by-step guide.

Under $100k? Compare options →

699 people viewed this today92 members requested a free kit this week138 investors bookmarked this

Best Answer▲ 7 upvotes

nancy_hall💰Established (100-250k)

That's an interesting position from your advisor, especially with gold seeing such strong momentum. While it's tempting to take profits when something hits all-time highs, there's also the argument for holding during a bull run if the underlying economic conditions support it.

You might find it helpful to look at some historical charts comparing gold's performance around previous all-time highs and the subsequent months/years. Sometimes those breakouts signal continued strength. World Gold Council has some great historical data and research you could cross-reference with your advisor's outlook.

Comments (4)

margaret_chen🏆Advanced (250-500k)Real Investor•about 2 months ago

Dude, literally in the same boat. My advisor is basically saying the exact same thing after this insane run. Like, my gut is screaming "take some profits!" but he's all "long game, long game." It's tough to just sit on your hands when you see those numbers, right?

barbara_white🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Congrats on the gains! Sounds like your advisor is playing the long game, which can be smart with gold. Quick question though – when you say "$250-500k range with my precious metals portion," is that *just* gold, or does that include other metals like silver or platinum you might have in your IRA?

janet_cook📊Growing (50-100k)•about 2 months ago

It's interesting that your advisor is saying to hold, especially with the gains gold has seen recently. Historically, advisors often recommend rebalancing your portfolio when one asset class has outperformed significantly. Are they giving a specific reason for holding, like anticipating further upward movement or perhaps a long-term strategy that outweighs short-term rebalancing? Just curious about their rationale, as it goes against some common financial planning advice.