Gold breaking all time highs - what now?
- •Okay, so gold is absolutely ripping right now and just hit like, $2300 an ounce.
- •My Gold IRA through Augusta Precious Metals is feeling pretty good about that, not gonna lie.
- •I started it up maybe 8 months ago, just dipping my toes into retirement planning at 28 here in Charleston.
Okay, so gold is absolutely ripping right now and just hit like, $2300 an ounce. My Gold IRA through Augusta Precious Metals is feeling pretty good about that, not gonna lie. I started it up maybe 8 months ago, just dipping my toes into retirement planning at 28 here in Charleston. I put in like, $10k to start, and then another $5k over the last few months whenever I had some extra cash from commission. My total portfolio is still under $50k overall, but seeing that gold climb like this definitely makes me feel smarter about diversifying early.
I know everyone says "don't time the market" and "past performance isn't indicative of future results," blah blah blah. But seriously, what's everyone else thinking? Is this just the beginning of a bigger run, or are we staring down some kind of correction soon? My gut says with all the global instability and inflation talk, gold has more room to run, but I'm also still pretty new to all this.
For those of you who've been in Gold IRAs longer, how do you handle these ATH moments? Do you just hold steady? Do you consider adding more, even at these levels, betting on continued upward momentum? Or do you see this as a potential peak and maybe ease off new contributions for a bit? I'm trying to figure out if I should stick to my regular contribution schedule or if I should adjust if it looks like things are getting frothy.
Any thoughts from the more seasoned investors out there would be super helpful. I'm trying to build a solid foundation here, and while the current gains are awesome, I want to make sure I'm making smart decisions for the long haul. Appreciate any insights!