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An Asteroid Impact Dating Back 790,000 Years May Shed Light on Seafloor Spherules
Our solar system does not exist in isolation. It formed within a stellar nursery along with hundreds of sibling stars, and even today has the occasional interaction with interstellar objects such as Oumuamua and Borisov. So it’s reasonable to presume that some interstellar material has reached Earth. Recently, Dr. Avi Loeb and his team gained significant attention with a study proposing that they had found evidence of interstellar material on the ocean seabed. However, a new study challenges this claim, suggesting a more local origin for the discovered material.
The original study was based on a 2014 meteor that entered the Earth’s atmosphere off the coast of Papua New Guinea. The trajectory of this meteor led researchers to speculate that it may have had an extraterrestrial origin. Subsequently, the team led by Dr. Loeb examined the seafloor near Papua New Guinea and discovered small, iron-rich spheres known as spherules. Detailed analysis of the spherules’ composition revealed an unusual isotope distribution that hinted towards an interstellar origin.
Nevertheless, there are some important caveats to consider. Firstly, the exact trajectory of the 2014 meteor is not precisely determined, casting doubt on the direct link between the spherules and this specific extraterrestrial object. Secondly, the presence of “unusual” isotopes in these spherules is not unique to interstellar origins, as demonstrated by the wide variation in iron isotope ratios within our solar system. The new study reveals that the isotope ratios of the spherules fall well within the established range for solar system objects, making the likelihood of an interstellar origin less than 1 in 10,000.
Further investigation led the researchers to explore the possibility of a local impact event as the source of these spherules. They identified a known impact that occurred 790,000 years ago in the region, causing what is known as the Australasian tektite strewn field. By examining additional isotope ratios, they concluded that the composition of the spherules aligns with other materials found within the Australasian tektite strewn field.
While these specific spherules appear to have a local origin, this does not discount the existence of interstellar meteorites on Earth. The search for such objects continues, as there is a high probability that interstellar material has indeed reached our planet. Future studies and observations will be crucial in furthering our understanding of cosmic interactions with Earth.
Reference: Loeb, A., et al. “Recovery and Classification of Spherules from the Pacific Ocean Site of the CNEOS 2014 January 8 (IM1) Bolide.” Research Notes of the AAS 8.1 (2024): 39.
Reference: Desch, Steve. “Be, La, U-rich spherules as microtektites of terrestrial laterites: What goes up must come down.” arXiv preprint arXiv:2403.05161 (2024).
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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