Gold breaking all time highs - what now?
- •Okay, so that $2,400 mark for gold felt pretty darn good, didn't it?
- •My big question now is, where do we go from here?
- •Does anyone else feel like this is just the beginning of a bigger run, or are we due for a significant correction?
Okay, so that $2,400 mark for gold felt pretty darn good, didn't it? As someone who's been pushing a decent chunk of my retirement savings into precious metals for a while now (we're talking a solid six-figure sum, around $300k, mostly in my inherited IRA, though I've been adding to it myself), seeing gold smash through all-time highs like this just reinforces why I made the switch from being a traditional bank manager to, well, this more tangible asset class. I mean, my old colleagues in Downtown Portland are probably scratching their heads, but honestly, I sleep a lot better knowing a portion of my wealth isn't just evaporating with inflation or some central bank policy.
My big question now is, where do we go from here? Does anyone else feel like this is just the beginning of a bigger run, or are we due for a significant correction? I’ve been reading a lot about the geopolitical tension, endless printing, and just the general instability in the markets globally, and it all just screams "buy more gold" to me. It's not just about protecting against inflation anymore; it feels like a genuine flight to safety. I'm contemplating adding another $20,000 to $30,000 to my Gold IRA this quarter, primarily in physical bullion, but I'm curious about others' strategies.
For those of you who have been in this game longer, what are your thoughts on allocating more now, at these levels? Or is it smarter to wait for a dip, which may or may not come? I'm not looking for financial advice, obviously, just genuine discussion from folks who are actually putting their money where their mouth is. Are you diversifying into other metals? I have a small amount of silver, but nowhere near the gold percentages. Also, for those in Oregon or the PNW, any local insights or trends you're observing?