Gold's recent dip got me thinking... (Tulsa investor)
- •I know a few of you are probably feeling it too from the recent gold price movements.
- •That dip after hitting past $2400 was a bit of a nail-biter, even for a seasoned (well, somewhat seasoned) investor like me.
- •They've been preaching diversification and hard assets for years, especially with all the geopolitical wildcards lately.
I know a few of you are probably feeling it too from the recent gold price movements. That dip after hitting past $2400 was a bit of a nail-biter, even for a seasoned (well, somewhat seasoned) investor like me. For sure, I was sitting there this morning, coffee in hand, looking at my Gold IRA statements and thinking, "Okay, is this just a natural ebb and flow, or should I be doing more strategizing?"
I've got about $180k chunk of my portfolio in physical gold now through my IRA, and honestly, it’s mostly thanks to taking cues from the execs at the oil company where I’m an admin here in Tulsa. They've been preaching diversification and hard assets for years, especially with all the geopolitical wildcards lately. I started building it up seriously about three years ago, chipping away at it whenever I had some extra cash, especially when I saw the market getting frothy. My initial average was way lower, so even with the recent fluctuations, I'm still feeling good, but that doesn't mean I'm not paying attention.
My strategy has always been pretty straightforward: buy on dips, hold for the long haul. I’m thinking about adding another lump sum, maybe $10k-$15k, if it pulls back to the $2250-$2300 range again. Does anyone else have specific price targets they’re watching to buy more? Or are you just holding steady right now? I know some people try to time the market way more precisely, but as a relatively busy full-time admin, I just don't have the bandwidth for that.
What are your thoughts on potential catalysts that could send gold higher again? Or lower, for that matter? I've been hearing a lot about central bank buying and de-dollarization, but also conflicting reports on inflation coming down. It's a lot to process. Love to hear what other Gold IRA investors out there are seeing and doing.