Gold hitting ATHs - anyone else rethinking their strategy?
- •Okay, so gold just bulldozed past $2400 and is sitting at all-time highs.
- •To be honest, a part of me is feeling pretty chuffed right now.
- •I stacked a good chunk of my Gold IRA holdings – mainly US Eagles and a few Canadian Maples – back when it was hovering closer to $1800-$2000.
Okay, so gold just bulldozed past $2400 and is sitting at all-time highs. To be honest, a part of me is feeling pretty chuffed right now. I stacked a good chunk of my Gold IRA holdings – mainly US Eagles and a few Canadian Maples – back when it was hovering closer to $1800-$2000. My account is up significantly, probably around 20-30% on those specific purchases, which for a chunk of my portfolio that's usually just chilling, feels pretty good.
I’m a manufacturing exec here in Cleveland, and I’ve always been a believer in hard assets. Stock market’s fine for growth, but there’s something reassuring about owning something tangible, especially with all the talk about inflation and geopolitical instability. That’s why I put about 15% of my ~$400k retirement portfolio into gold coins through a Gold IRA a few years back. It’s been my “sleep soundly at night” allocation, honestly.
But now that it’s this high, I’m wrestling a bit with what to do next. Do I just ride the wave? Take some profits (if that's even a thing you do in a Gold IRA outside of converting to cash for distributions later)? Or do I actually buckle down and add more, betting on further gains? The news is full of reasons why it should go higher – central bank buying, continued inflation fears, geopolitical stuff heating up. But then you hear the bears talking about a potential pullback. It’s hard to cut through the noise.
For those of you who’ve been in gold longer, how are you approaching this? Are you adjusting your allocations? Any Cleveland-area folks or other manufacturing guys out there with similar portfolios feeling the same? I'm curious what everyone else's gut is telling them, especially those who aren't just selling paper gold but actually hold the physical.