I think that if it gets bad with Iran, and the Russians and Venezuela begin to sell oil based on Euros, gold could go through the roof. Over $1200 is realistic.
I am certainly going to keep what we have now. I am leaning towards holding off on many more purchases. But I may change my mind. I really have many concerns with foreign countries doing anything they can to undermine us.
I have worked for my money all of my life. And I have socked away much of it. I have never let it work for me. Our broker wh manages our IRA's and mutual funds really doesn't like me buying gold. But I am not sure if I trust his motivations. And he poo poo's my fears of political or terrorist turmoil.
So any courteous advice from folks who have is welcomed.
Brokers are salesmen. Treat anything they say just like you would if any used car salesman said it.
You have some silver, you have some gold, you have an IRA and probably another retirement account (plus Social Security, if you are that close to retirement), so you are probably pretty well set or secure for the immediate future and/or retirement.
I think you should give some thought to what you would do with this "mad money" if you doubled it in a year. Would you take a vacation or cruise? Expand your house? Add a swimming pool maybe? Endow your children's/grandchildren's education?
I think, if the answer is any of those above, you should just take the money and do it now. For example, here in Florida, you can prebuy any child a full four year college education including all tuition and housing for a ridiculously low price (the younger, the cheaper, and even transferable out of state).
But if you double your money and plan on continuing to gamble it, then recognize that is what you are doing. And enjoy it while you can. And I don't mean to say that that is necessarily a bad idea - just that you recognize that high-risk investing without any goal or endpoint is really that stark a concept and is not the same as simply parking your money where it will earn the highest return over some fixed period of time.