Gold went parabolic this week - what's everyone doing now?
- •Okay, so that gold spike, right?
- •It’s been a solid hedge, especially watching some of the craziness in other sectors.
- •I remember folks saying I was crazy for putting so much into physical assets back then, but who's laughing now?
Okay, so that gold spike, right? My portfolio is looking pretty sweet this week, almost cracking the $180k mark, which is a good feeling after some of the ups and downs running a tourism business here in Savannah. I got into a Gold IRA about five years ago, putting in a decent chunk then and topping it up whenever the market dips, or when I just have a little extra from a good season. It’s been a solid hedge, especially watching some of the craziness in other sectors. I remember folks saying I was crazy for putting so much into physical assets back then, but who's laughing now?
I’m holding a mix of Gold Eagles and some South African Krugerrands, bought when prices were significantly lower. The recent surge has me thinking, though. Do I rebalance a bit? My initial goal was always to have a strong, stable bedrock in my retirement, something impervious to inflation and market volatility, and gold has definitely delivered on that. But seeing it hit these new highs, it makes you wonder if there’s a ceiling or if this is just the beginning of a new extended bull run.
On one hand, the general economic outlook still feels pretty shaky to me. Inflation is still a beast, and frankly, who trusts what the Fed is going to do next? So, keeping my gold stash feels like the smart play for weathering whatever comes next. On the other hand, a part of me is curious if now’s the time to peel off maybe 10-15% of my gold, lock in some gains, and maybe diversify into something else for a bit. Not sure what, though – silver also just climbed, so it's not like that's a cheap entry.
Curious what everyone else is doing. Are any of you considering taking profits, or are you just holding steady and enjoying the ride? Or even buying more on the dip? I’m leaning towards holding for now, but it’s always good to hear different perspectives.