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Will California Experience the Northern Lights After Earth is Hit by a Geomagnetic Storm?
A significant geomagnetic storm is currently affecting Earth and has the potential to create stunning northern lights displays across parts of the United States on Sunday and Monday, according to the National Oceanic and Atmospheric Administration (NOAA).
The NOAA’s Space Weather Prediction Center issued a geomagnetic storm watch on Saturday after a coronal mass ejection (CME) – a burst of plasma and magnetic material from the sun – was detected heading towards Earth.
By Sunday afternoon, the storm had been upgraded to a G4 level, indicating severe strength with a major disturbance in Earth’s magnetic field. The storm is expected to remain at a strong G3 level or higher at least through Sunday evening.
While the public is not expected to experience any negative impacts, technology could be affected, including potential voltage control issues and disruptions to satellite operations. The SWPC has warned infrastructure operators, such as power grids and satellite agencies, to prepare for potential effects.
Bill Murtagh, program coordinator at the SWPC, emphasized the importance of taking precautions to prevent problems with critical systems. He mentioned the historic incident in 1989 when a strong geomagnetic storm caused a widespread power outage in Quebec, Canada.
Personal devices like cellphones and GPS gadgets are unlikely to be affected by geomagnetic storms as they mostly impact power grids instead of electronic devices, Murtagh explained.
This current storm marks the third time a geomagnetic storm has reached G4 status during the ongoing 11-year solar cycle which began in 2019. According to Murtagh, the speed at which the coronal mass ejection traveled from the sun to Earth was notably fast.
Geomagnetic storms are renowned for producing spectacular auroras, known as northern lights when visible in the Northern Hemisphere. As geomagnetic activity rises, auroras become more vivid and can be seen further from the poles.
The latest aurora forecast from the SWPC predicts a strong display over Alaska and Canada on Sunday and Monday nights, with potential visibility in states such as Washington, Idaho, Montana, North Dakota, and others. While California may not initially be in the viewing area, Murtagh suggested that the situation could change.
He recalled a similar storm last March that allowed portions of Northern California to witness the northern lights phenomenon, indicating that it was still possible for the lights to reach the state given certain conditions.
Even if California misses out on this event, there will be more opportunities in the coming years as the solar cycle peaks. The chances of seeing auroras are higher around equinoxes, with the current time being particularly favorable due to the Earth’s axis tilt.
Murtagh concluded by stating that the solar maximum period, where eruptions are more common, will continue for a few more years before gradually decreasing by 2029 or 2030, offering plenty more opportunities for aurora sightings.
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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