Palladium in my IRA - worth it? Thoughts from the group?
- •It's been a fantastic hedge, especially with how wonky the market's been feeling lately.
- •I've been really happy with the stability it's provided to my overall portfolio, which is otherwise pretty diversified in stocks and real estate.
- •He brought up palladium specifically because of the industrial demand, especially with the push for cleaner energy and catalytic converters.
Okay, so I've been kicking around the idea of adding some palladium to my IRA and wanted to get some real-world input from others who might have done the same or considered it. My advisor here in Salt Lake has been pretty gung-ho on precious metals for a while now, and we've got a decent chunk, probably in the low 300s, currently in gold and silver. It's been a fantastic hedge, especially with how wonky the market's been feeling lately. I've been really happy with the stability it's provided to my overall portfolio, which is otherwise pretty diversified in stocks and real estate.
He brought up palladium specifically because of the industrial demand, especially with the push for cleaner energy and catalytic converters. He's making a compelling case that it's got a strong fundamental demand story, not just a safe-haven play like gold. The prices have been a bit volatile, which makes me a little cautious, but also makes me think there might be a good entry point if I time it right. I'm honestly a bit torn because I like the stability of gold, but the growth potential of palladium is intriguing. It feels like a slightly higher risk/higher reward play compared to just stacking more gold.
Anyone here already holding palladium in their IRA? What's been your experience? Any regrets or major wins? Or did you look into it and decide against it? What were your reasons? I'm trying to figure out if it's genuinely a smart move to diversify within the precious metals space or if I should just stick to what's been working for me. Appreciate any insights!