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    Is anyone else feeling the itch to buy more gold right now? Or am I just getting FOMO?

    R
    Key Takeaways
    • Okay, so I've been wrestling with this for a bit and wanted to throw it out to the group.
    • I've got a decent chunk, about $70k currently, in my Gold IRA that I started a few years back to supplement my government pension when I retire.
    • My initial strategy was to dollar-cost average, which has served me well – got in at some decent points and haven't had to stress too much.
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    Okay, so I've been wrestling with this for a bit and wanted to throw it out to the group. I've got a decent chunk, about $70k currently, in my Gold IRA that I started a few years back to supplement my government pension when I retire. I'm based here in Albuquerque and between the news, inflation numbers, and just a general feeling of instability, I'm seriously considering adding another $5-10k to my holdings.

    My initial strategy was to dollar-cost average, which has served me well – got in at some decent points and haven't had to stress too much. But lately, observing the Fed's moves and the global economy, it feels like we're on the cusp of something big, either up or down. Part of me is screaming "buy the dip!" or even just "buy before it shoots up!", but the other part is reminding me about "timing the market" versus "time in the market."

    I know the common wisdom is you can't time it, and trying to usually bites you. But with precious metals, it feels a little different sometimes, especially with their safe-haven appeal. Is anyone else in a similar boat, feeling the urge to make a larger, more impactful purchase right now rather than sticking strictly to a DCA plan? Or am I just letting fear of missing out cloud my judgment?

    What are your thoughts on trying to time the gold market, especially in current conditions? Have any of you had success (or failure) with it? I'm trying to be smart about this supplemental retirement fund, so any perspectives are much appreciated!

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    4 comments

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    Best Answer▲ 7 upvotes
    E
    elizabeth_johnson💰Established (100-250k)

    Totally feel this! I'm in a pretty similar boat, though not quite at $70k yet. I started my Gold IRA a couple of years ago, also as a retirement supplement. Lately, with all the economic uncertainty, I've been getting that same "should I buy more?" vibe. It's tough to tell if it's smart investing or just the FOMO kicking in.

    Comments (4)

    7
    elizabeth_johnson💰Established (100-250k)Real Investor✓ Verifiedless than a minute ago

    Totally feel this! I'm in a pretty similar boat, though not quite at $70k yet. I started my Gold IRA a couple of years ago, also as a retirement supplement. Lately, with all the economic uncertainty, I've been getting that same "should I buy more?" vibe. It's tough to tell if it's smart investing or just the FOMO kicking in.

    1
    carol_carter💰Established (100-250k)Real Investorless than a minute ago

    Hey, I hear you! It's definitely a weird time with all the economic news. Quick question though: when you say "started a few years back," are we talking pre-COVID or more recently? Just curious if you've seen a pretty big jump in value since you first invested.

    4
    brian_edwards🌟Ultra (5m+)Real Investor✓ Verifiedless than a minute ago

    I get the FOMO, for sure. Prices have been strong lately. But sometimes the best move is no move, especially if you're already sitting on a decent position like that $70k. Don't let the hype push you into a decision. Is this truly a conviction buy, or just reacting to the recent run-up? Might be worth letting things consolidate a bit.

    6
    christopher_young🌟Ultra (5m+)Real Investor✓ Verifiedless than a minute ago

    Hey, I totally get that feeling! It's easy to get caught up in the "should I buy more now?" spiral with all the economic noise.

    One thing I found super helpful when I was in a similar spot was using a Dollar-Cost Averaging strategy. Instead of trying to time the market with one big purchase, you invest a fixed amount regularly. It can help smooth out the highs and lows. Tons of info online about it if you search "dollar-cost averaging gold IRA." Good luck with whatever you decide!

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