Platinum and gold acting wonky - anyone else repositioning?
- •Platinum's been mostly sleeping since then, but gold has been the usual reliable beast.
- •My concern now is the volatility.
- •While the overall trend for gold is still up long-term, these intraday and weekly swings are wild.
Okay, so I've been watching platinum and gold bounce around like a tennis ball in a washing machine lately, and it's starting to make me a little antsy. I've been heavily into tangible assets for years, especially with my real estate development work, and my whole ethos is about hedging against inflation and market crap. I rolled about $1.5 million from some old growth stocks into my Gold and Platinum IRAs back in late 2021 when I started seeing the writing on the wall, figuring it was a safe haven play for a solid chunk of my portfolio. Platinum's been mostly sleeping since then, but gold has been the usual reliable beast.
My concern now is the volatility. While the overall trend for gold is still up long-term, these intraday and weekly swings are wild. I’m sitting here in Aspen, watching the news, and it feels like the big banks are playing games with the spot price. I've contemplated taking about 10-15% of my gold profits and re-allocating them into something else just to diversify that leg of my portfolio, but then I look at the dollar and think, "Nope, not yet." I initially targeted a 12-18 month hold on this particular IRA chunk before re-evaluating, and we're coming up on that timeframe.
For those of you with significant holdings, especially in platinum, are you seeing this as an opportunity to buy the dip, or are you scaling back? I've been considering adding another $250k into platinum if it holds these lower levels for another week or two, but that’s a big "if." Curious to hear what others are doing with their precious metals allocations, particularly platinum given its industrial demand potential. Are we looking at a genuine correction or just a bit of noise before another leg up?