News
8-Year-Old Sole Survivor of South Africa Bus Crash that Claims 45 Lives
A tragic bus crash in South Africa has left 45 people dead, but amidst the devastation, there is a story of hope. An 8-year-old girl miraculously survived the horrific accident that claimed the lives of nearly everyone on board. The bus, carrying 46 passengers on their way to an Easter weekend pilgrimage, plunged 165 feet from a bridge into a ravine, before engulfing in flames.
The bus was en route from Botswana to Moria, a religious pilgrimage site in South Africa, when tragedy struck. According to the local department of transportation, the driver lost control of the vehicle, leading to the fatal crash that resulted in 45 casualties including the driver.
Amidst the grim aftermath, the 8-year-old survivor was rushed to a nearby hospital in serious condition. The Limpopo Province department of transportation in South Africa provided updates on her condition, offering a glimmer of hope in the midst of tragedy.
Rescue operations were described as harrowing, with some bodies burned beyond recognition, others trapped in debris, and some scattered at the crash site. The magnitude of the accident left a somber mood in the region, with President Cyril Ramaphosa reaching out to President Mokgweetsi Masisi of Botswana to offer condolences.
The incident took place in a picturesque yet treacherous area with winding roads and breathtaking vistas, approximately three and a half hours north of Johannesburg. The road, perched on a high overpass, curved sharply over a ravine surrounded by rocky, tree-covered slopes.
Easter weekend is a peak time for traffic in the area due to the pilgrimage to Moria, the Zion Christian Church’s headquarters. Last year’s pilgrimage marked the first one post the Covid-19 pandemic, drawing significant attention and visitors. This year, authorities were prepared for an influx of pilgrims, making the tragedy all the more heartbreaking.
As South Africa mourns the loss of 45 lives, questions arise about road safety in the region. The country has seen a concerning number of road fatalities, with over 12,400 reported in 2022 alone. The high road-fatality rates in Africa are a cause for alarm, prompting calls for increased investment in road safety and stricter enforcement of traffic laws.
In the face of this tragedy, the resilience of the human spirit shines through in the survival of the 8-year-old girl. As the nation grieves, it also reflects on the importance of road safety and the need for measures to prevent such devastating accidents in the future.
Russell Goldman contributed reporting from New York.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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