I Personally don't believe the price of Gold is linked to inflation or the recession.
However, you might. So let's see if this reasoning holds up to scrutiny.
Let's see if selling at 2k makes sense.
Boomer Logic:
It happened in the past, there was a recession and then the price of Gold spiked to 2k and then it crashed, so it will happen again.
Skeptic:
This brings up a very interesting question, was every previous recession followed by 2k price spike and then a crash.
Looking at the price history of Gold there is no indication of that. 2k is just a random number pegged to dollar valuation that flucatues with time.
So 2k, or any number we peg in our mind to the price of gold in terms of dollars is really insignificant. It would not indicate a reason to sell or even buy. However, you might.
Boomer Logic:
Well how about inflation, those daaaaaaaaaaaaaam feds are printing so much goddaaaaaamn money! and that's why we all need to sell.
Skeptic:
Ook so the government is printing lots of money, so wouldn't selling into inflation erase your investment?
However, let's pretend selling into inflation makes sense.
What is the current inflation rate? The current inflation rate is only 1.6 % at best or maybe 1.7%.
No one is going out and spending and working, everyone is afraid of the Ronoa, so how can there be inflation?
Inflation is only expected to pick up next year. So selling now means you would be buying into inflation, and thus losing money and a buying opportunity for anyone else.
However, you do what makes sense for you. You can sell when you know the economy is heading in the right directions.
You won't need some financial fortune teller telling you when to sell.
You will feel it in the air, when people have more confidence in government and in the strength of the dollar.
You might think that's happening right now, in which case you should sell right away.
However if you don't, then you probably shouldn't, and I suspect we won't be there anytime soon. But you do you ;-)
However, you might. So let's see if this reasoning holds up to scrutiny.
Let's see if selling at 2k makes sense.
Boomer Logic:
It happened in the past, there was a recession and then the price of Gold spiked to 2k and then it crashed, so it will happen again.
Skeptic:
This brings up a very interesting question, was every previous recession followed by 2k price spike and then a crash.
Looking at the price history of Gold there is no indication of that. 2k is just a random number pegged to dollar valuation that flucatues with time.
So 2k, or any number we peg in our mind to the price of gold in terms of dollars is really insignificant. It would not indicate a reason to sell or even buy. However, you might.
Boomer Logic:
Well how about inflation, those daaaaaaaaaaaaaam feds are printing so much goddaaaaaamn money! and that's why we all need to sell.
Skeptic:
Ook so the government is printing lots of money, so wouldn't selling into inflation erase your investment?
However, let's pretend selling into inflation makes sense.
What is the current inflation rate? The current inflation rate is only 1.6 % at best or maybe 1.7%.
No one is going out and spending and working, everyone is afraid of the Ronoa, so how can there be inflation?
Inflation is only expected to pick up next year. So selling now means you would be buying into inflation, and thus losing money and a buying opportunity for anyone else.
However, you do what makes sense for you. You can sell when you know the economy is heading in the right directions.
You won't need some financial fortune teller telling you when to sell.
You will feel it in the air, when people have more confidence in government and in the strength of the dollar.
You might think that's happening right now, in which case you should sell right away.
However if you don't, then you probably shouldn't, and I suspect we won't be there anytime soon. But you do you ;-)