Gold keeps smashing records - what are y'all doing now?
- •Holy hell, gold just broke another all-time high!
- •Saw it touch $2,420 today on the spot market.
- •Remember when I was scoffing at the thought of it hitting $2k a few years back?
Holy hell, gold just broke another all-time high! Saw it touch $2,420 today on the spot market. Remember when I was scoffing at the thought of it hitting $2k a few years back? Guess I was wrong. My portfolio's sitting pretty now, pushing well past that $3M mark just on metals alone, and I'm feeling damn good about decisions made back in the early 2000s to really lean into this. Most of my capital gains are just screaming at me to do something with it. Feels like the wild west sometimes, watching these charts.
I’m a retiree these days, used to be staring at Bloomberg terminals all day down on Wall Street, so I’m naturally a bit more hands-on than some. We're talking heavy allocation, probably 60-70% in physical and paper gold, with the rest in other commodities and some blue-chip dividends. My Gold IRA's performance has been insane. My wife keeps joking we should just buy that little cabin upstate we've always talked about, but I'm thinking bigger picture here. Is anyone else starting to feel like this rally is getting parabolic, or am I just getting too cautious in my old age?
I’ve been holding a significant chunk of my gold since it was hovering around $400-500 an ounce, so my average cost basis is ridiculously low. I'm sitting on unrealized gains in the seven figures right now, and the temptation to take some profits is real. But then I look at the geopolitical landscape, the inflation numbers, the Fed's dance with interest rates – and I think, "where else would I put this capital that feels as secure?" It’s a tough one.
For those of you with equally heavy allocations, especially in or around NYC, are you rebalancing at all? Or just letting it ride? My financial advisor (who’s been pretty good, I’ll admit, but still pushes for more diversification than I’m comfortable with) is suggesting trimming some of the highest-performing assets to lock in gains. But what would you even reallocate to in this environment? Bonds? Stocks? Feels like betting on a different flavor of uncertainty.
Thoughts? Opinions? Am I crazy for wanting to hold onto this golden goose, or crazier for thinking about selling?