Gold ripping - Anyone else seeing this? What's next for our IRAs?
- •Man, last week was something else, huh?
- •Waking up and seeing gold just absolutely demolish its previous all-time highs...
- •gotta say, it feels good.
Man, last week was something else, huh? Waking up and seeing gold just absolutely demolish its previous all-time highs... gotta say, it feels good. My wife and I have had about 15% of our 401k rollover, which is roughly 35k, sitting in physical gold in a Gold IRA since late 2020. At the time, everyone thought we were nuts – "why would you put money into something that doesn't do anything?" they'd say. Well, looks like who's laughing now, eh?
I'm an entrepreneur right here on the border in El Paso, so I see firsthand how inflation and currency fluctuations can hit people. We deal with so many different economies and perspectives here, and it makes you think about hedging your bets. That's why the gold was always a no-brainer for us. It wasn't about getting rich quick, it was about protecting our purchasing power when everything else feels like it's on shaky ground. Now, seeing these returns, it's definitely icing on the cake.
My question for the group now is, what's everyone's take on this surge? Is this just a short-term reaction to all the geopolitical craziness, or are we looking at a sustained new floor for gold prices? I'm debating whether to rebalance a bit within our Gold IRA, maybe take some profits and diversify into silver, or just hold steady. My main concern is not getting greedy and letting emotion drive the decision. Anyone else in a similar position with their Gold IRA? What are your next moves?