When I first joined r/stocks back in late January, there was heavy criticism for anyone who put their money in gold and silver. Gold bugs were “paranoid”, “dumb”, “boomer” and so on. That's when I decided to stop taking this sub seriously for as long as we're in a bear market. Y'all might be great at picking stocks in bull markets, but when a major downturn happens, the tech stocks everyone love turn to trash. Since Feb 1st, gold is up 8% while the S&P is down 7% and the Nasdaq down 10% (and will be even more down at the open tomorrow). Miners are doing even better. Gold is going to go up as long as inflation is high and there is geopolitical instability. Now, if you're able to let go of your pride and join the gold train, we'll be happy to have you.
Full disclosure, I'm 50% in gold, 30% in cash, and 20% in tech stocks.
This post in not financial advice! Do your own DD.
Leave a Reply