I hold silver and gold as long-term inflation hedges and portfolio diversifiers, not for short-term trading. My silver investment is currently up \~105%, driven mainly by global monetary tightening cycles, industrial demand, and speculative inflows. Valuations now appear stretched compared to historical real returns, and volatility has increased.
Gold has also appreciated but to a lesser extent. It still benefits from geopolitical risk, central-bank accumulation, and currency debasement concerns, though upside from current levels may be slower and more range-bound.
My dilemma:
Should I partially book profits in silver due to sharp outperformance and rebalance into other asset classes, or continue holding given the long-term macro thesis?
For gold, is it more prudent to hold through cycles or apply a similar profit-booking approach?
Looking for perspectives on profit-booking vs long-term holding from a portfolio-allocation standpoint—not stock tips.