Yet another Fed decision... and my gold position
- •Watching this Fed announcement today like it's the Super Bowl, except the only thing getting tackled is the economy, potentially.
- •Seriously though, every time Powell steps to the podium, my gut clenches a little, even with my portfolio largely insulated.
- •My traditional stock portfolio took a decent hit last year, but that gold kept chugging along.
Watching this Fed announcement today like it's the Super Bowl, except the only thing getting tackled is the economy, potentially. Seriously though, every time Powell steps to the podium, my gut clenches a little, even with my portfolio largely insulated. Rolled over that 401(k) into a Gold IRA back in '21 when inflation started looking less "transitory" and more "permanent fixture in my Scottsdale backyard." Best move I ever made, honestly. My traditional stock portfolio took a decent hit last year, but that gold kept chugging along. Ended up adding another $200k in physical bars to my vault last month, just because the volatility feels like it's only going to crank up.
My biggest concern right now isn't if they raise rates, but how aggressively and what that means for the dollar long-term. If they backtrack too soon, that's fuel for inflation, and that's exactly what I'm hedging against with the precious metals. If they go too hard, it's a recession, and then everyone's scrambling for safety. For me, safety is gold. My gold positions are up nicely over the last couple of years – we're talking a solid mid-six-figure gain on that initial rollover alone, plus the physical I've been stacking.
Anyone else feeling this push-pull anxiety? I've been expanding my silver holdings too, the industrial demand just seems unstoppable. Thinking about converting some more of my underperforming tech stocks (finally selling off some of those duds I held onto too long) into platinum or palladium. Diversification within the metals sector, you know? It's not just about gold anymore, though gold solidifies the base.
What's everyone's read on the Fed statement today? Are you guys sitting tight, or making moves? Specifically curious if anyone else diversified into other precious metals recently and why. My business ventures are doing great, but I'm always looking for ways to protect that capital. The amount of new money printing still worries me and makes me sleep better knowing I have physical assets.