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Should you sell your gold investment as the economy improves? Experts weigh in
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Gold has been a standout investment in recent months, outperforming traditional assets such as stocks and bonds. The precious metal reached a historic peak of $2,758 per ounce in October 2024, marking an impressive 38% increase from just a year ago. Several factors drove this surge, including inflation, rising interest rates and global tensions that made investors seek safer options.
Now, things are starting to shift as we close out 2024. Inflation is cooling down. The Federal Reserve is talking about cutting rates. This leaves successful gold investors with a big question: “Is it time to sell and take profits? Or should I keep my gold investments?”
We spoke with three investment professionals to understand when selling gold makes sense — and when holding might be the best strategy. Below, we’ll explore both scenarios and share practical ways to adjust your investment mix for today’s changing economy.
Start adding gold investments to your portfolio now.
Should you sell your gold investment as the economy improves?
“It really depends on [your] financial goals and risk tolerance,” says Ronen Cojocaru, personal investment consultant and CEO of 8081. While an improving economy might point to better returns in stocks or bonds, gold still protects investors against unexpected downturns.
Rick Miller, financial planner and investment advisor at Miller Investment Management, suggests following your original investment plan.
“If [it’s] long-term hold, hang on. If [it’s] growth or speculation, sell to capture the great gains you may have,” he advises. This simple rule can guide your decision based on your initial goals rather than market timing.
Some investors might benefit from selling to pursue growth opportunities, while others may want to keep gold as a safety net.
Learn more about the benefits of gold investing now.
When it makes sense to sell your gold investment
“If gold prices have reached a high point, it could be a good time to sell and lock in profits,” suggests Cojocaru. You might find better returns in stocks, real estate or other assets that typically grow faster during economic upswings.
Timing your exit requires watching specific economic indicators.
“Gold underperforms when the CPI falls, even during rising GDP numbers,” explains Jerry C. Wagner, president of Flexible Plan Investments.
He advises watching for two main selling signals: deflationary periods and a strengthening dollar. Periods of positive real interest rates — when Treasury yields top inflation — can also challenge gold prices.
Consider selling your gold investment if you spot these opportunities and have already met your profit goals. Moving money into growth-focused investments could help your portfolio expand faster in favorable market conditions.
When it makes sense to hold your gold investment
While market conditions might tempt some to sell, gold’s unique benefits make a strong case for staying invested. “Gold can act as a safety net [when] the economy faces unexpected downturns, inflation rises or market volatility increases,” explains Cojocaru. This protection becomes especially important for investors near retirement who need stable, long-term value for their savings.
The numbers right now support a long-term holding strategy.
“Few investors realize that since the beginning of this century, gold has outperformed the NASDAQ,” Wagner points out.
He explains that simply holding gold passively for the long haul has been highly profitable. Also, gold often moves opposite to stocks — making it valuable for portfolio balance.
“Since gold often zigs when the stock market zags, selling it can be hazardous to your long-term financial health,” he cautions.
Diversification strategies in a changing economy
Whether you decide to sell or hold your gold investments, spreading your money across different assets helps protect and grow your wealth.
Here are smart ways to do that, according to Cojocaru:
Mix in stocks across different sectors
Include technology, healthcare and consumer goods companies to capture growth when the economy strengthens. Companies often see higher profits during economic upswings.
Add bonds for stability
Combine short-term and long-term bonds to create steady income while managing interest rate risks. Bonds help cushion your portfolio while other investments fluctuate.
Look into gold ETFs
These funds let you keep exposure to gold while enjoying easier trading. They’re more liquid than physical gold and often have lower storage costs.
The bottom line
“Now is a terrific time to take some profits [as] gold [is] at all-time highs,” suggests Miller. This would allow you to recover your initial investment while keeping some position in gold. Besides that, your next moves should depend on key economic signals such as interest rates, inflation and the dollar’s strength.
Stay informed but don’t make hasty decisions based on headlines or social media tips. Instead, work with a financial advisor to review your investment goals and create a balanced strategy. They can help you decide whether to sell, hold or adjust your gold holdings while keeping your long-term financial success in focus.
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Officials and universities in several U.S. states condemned racist text messages that were sent to Black residents on Wednesday. The messages, which had almost identical language, told the recipient they had been “selected for cotton picking.”
In a statement, the FBI said it was aware of “the offensive and racist text messages sent to individuals around the country” and said it is in contact with the Justice Department and other federal authorities.
The texts were received by people in states including Alabama, Texas, Georgia, Florida, Maryland, Pennsylvania, South Carolina and Ohio, CBS News found. NAACP President Derrick Johnson condemned the messages and said they represent an “alarming increase in vile and abhorrent rhetoric.”
The texts were sent from numbers with area codes in at least 25 different states, CBS News found. By Thursday, several numbers were disconnected, while others went to voicemail that identified them as TextNow users, a provider that allows people to create phone numbers for free.
TextNow said in a statement that it had “learned that one or more of our accounts may have been used to send text messages in violation of our terms of service,” adding that it shut down the accounts as soon as it became aware.
“We do not condone the use of our service to send harassing or spam messages and will work with the authorities to prevent these individuals from doing so in the future.”
CBS News spoke to one of the individuals who sent a version of the text. The person, whose area code was linked to Fort Wayne, Indiana, said the message was a prank before they abruptly ended the call. Subsequent requests for comment went unanswered.
Officials report widespread messages
The Virginia’s Attorney General’s Office told CBS News it is aware of the messages and “unequivocally condemns them,” urging recipients to contact local law enforcement and the FBI if they believe they are under threat.
The Atlanta Police Department in Georgia told CBS News they are aware of the texts and are not investigating at this time, but urged residents to report any suspicious messages.
Several schools and universities also said their students received the texts.
Clemson University Police Department in South Carolina said they received reports of students receiving racist texts, while some Black students at the University of Alabama also received the messages, according to the student newspaper.
Some students at Ohio State University received the texts as well, school spokesperson Benjamin Johnson told CBS News. “We have reported the messages to the Office of Institutional Equity and are offering support services. We are aware that this is happening nationally,” said Johnson.
Lower Merion School District in Pennsylvania warned parents in a letter Thursday that middle schoolers received racist text messages. The school district did not characterize what the text messages said.
Maryland’s Montgomery County said in a letter to families and students that local law enforcement and the FBI are aware of these messages, and that “law enforcement in some areas have announced they consider the messages low-level threats.”
Recipients describe fear
CBS News spoke to two residents of Atlanta who reported receiving the messages. Devereaux Adams, 27, said he felt “afraid and hurt” when he received the text on Wednesday afternoon.
Adams said it’s “very confusing” because he can’t tell where or how the person sending the texts got his contact information. “I don’t feel safe at all,” Adams said.
Another Atlanta resident, Monet Miller, 29, said she felt scared after receiving the messages. She said her friends in North Carolina also got the text.
“I knew it was a prank but to see that so early after the election I was shook. Just made me be more cautious of my surroundings and where I go,” Miller told CBS News.
Fort Lauderdale resident Corryn G. Freeman said she received a racist text at 5:30 p.m. on Wednesday from a local number she did not recognize. “It just really sparked fear. It sparked anger. I believe that they know that I’m a Black woman or a Black person, which is why they would target me with that type of inflammatory racism,” Freeman said.
After posting about receiving the message on social media, Freeman said two of her friends reached out to tell her their kids, both Black, received similar racist text messages.
“It’s not fair that they have to have to process this level of racism after an election that they did not participate in. But because of the boldness of whoever this is post-election, they are subjected to it,” Freeman said.
contributed to this report.
President-elect Donald Trump announced late Thursday that his campaign co-chair Susie Wiles will serve as his White House chief of staff come January, the first woman to ever hold that position.
“Susie Wiles just helped me achieve one of the greatest political victories in American history, and was an integral part of both my 2016 and 2020 successful campaigns,” Trump said in a statement. “Susie is tough, smart, innovative, and is universally admired and respected. Susie will continue to work tirelessly to Make America Great Again. It is a well deserved honor to have Susie as the first-ever female chief of staff in United States history. I have no doubt that she will make our country proud.”
Wiles is known as a formidable political operative who prefers to work behind the scenes, rather than on camera. Trump asked her to come to the microphone when he declared victory early Wednesday morning, and she declined, preferring to stay out of the spotlight.
Wiles has managed to not just curry but, more critically, keep Trump’s favor while working in a high-profile campaign role, managing the ambitions, personalities and egos in Trump’s orbit.
Wiles used to work for Florida Gov. Ron DeSantis, helping secure the governor’s office for him. But DeSantis’ relationship with her soured, and Trump world brought her into the fold. Wiles helped team Trump defeat her former boss in the Republican primaries.
Wiles’ father was the late Pat Summerall, a famous sports broadcaster. Now 67, Wiles has worked behind-the-scenes roles shaping and guiding politicians in Florida for four decades.
The chief of staff role is a demanding one that involves managing the president himself, in addition to senior White House staff, and by extension, the hundreds of people who work in the West Wing. But it also involves mapping out and executing a president’s policy objectives, ambitions and legacy.
Trump had four chiefs of staff during his first term, and parted with some of them on uncomfortable terms. Trump’s longest-serving White House chief of staff, John Kelly, has said Trump meets the definition of a fascist, and warned against a second Trump term. Reince Priebus, Mark Meadows and Mick Mulvaney also served in the role, although Mulvaney was only ever an acting chief of staff.
contributed to this report.
What does the Fed’s interest rate cut say about the state of the economy?
Officials condemn racist text messages sent to Black residents in several states
Trump picks Susie Wiles as White House chief of staff, first woman ever in the role
What does the Fed’s interest rate cut say about the state of the economy?
Officials condemn racist text messages sent to Black residents in several states