Gold breaking all-time highs - what now?
- •Okay, so gold just blew past $2,150.
- •For those of us who've been in this game for a while, it's a hell of a feeling.
- •We're talking a solid 30% of my retirement portfolio, probably about $150k worth of physical gold now sitting securely.
Okay, so gold just blew past $2,150. For those of us who've been in this game for a while, it's a hell of a feeling. I remember dumping a good chunk of my construction company's retirement funds (personal, not employee) into a Gold IRA back when it was hovering around $1,500-$1,600 a few years ago. My wife thought I was nuts, but I’ve always been a believer in tangible assets, especially when the whole world feels like it's printing money like there's no tomorrow. We're talking a solid 30% of my retirement portfolio, probably about $150k worth of physical gold now sitting securely.
I've always viewed gold as more of a hedge against inflation and economic instability than a pure growth play, though this kind of run makes you question that. Watching the news lately, with inflation still being sticky and central banks doing... whatever it is they're doing, it just reinforces that feeling. Being based in Chicago, you see all the signs of economic uncertainty, even with the construction boom we're experiencing. It’s hard to trust funny money when you work with steel and concrete every day.
Now that it's hit these levels, I'm genuinely curious about everyone else's thoughts. Are you guys holding strong, or are some of you considering taking profits? I’m leaning towards continuing to hold for the long haul. I don’t see the underlying reasons for holding gold – geopolitical instability, inflation fears, de-dollarization chatter – going away anytime soon. But man, it's tempting to look at those gains.
What's your strategy moving forward? Any seasoned investors out there with predictions on if this run has more legs, or if we're due for a correction? Always good to hear different perspectives from people who aren't just trying to sell you something.