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Authorities seize a 750-pound alligator from a home in Hamburg, N.Y.
A 750-pound alligator named Albert Edward was recently seized from a home in Hamburg, N.Y. The massive reptile, measuring 11 feet in length and 34 years old, had been living in a pool house attached to his owner’s residence until authorities intervened on Wednesday. The New York State Department of Environmental Conservation removed Albert from the premises after determining that he was being kept illegally, as reported in a Facebook post.
According to the department, the owner had built an addition to his house to house Albert in an in-ground swimming pool. It was also revealed that the owner allowed visitors, including children, to interact with the alligator, who suffers from blindness and spinal injuries.
Owning an alligator in New York without the proper permits is considered illegal, with licenses strictly reserved for specific purposes such as scientific research or educational displays, as stated on the department’s website.
The department emphasized that even if the owner possessed a valid license, public contact with the animal was strictly prohibited. Despite the owner, Tony Cavallaro, having had a license for Albert which expired in 2021, he defended his actions by stating that visitors only took photos with the alligator and did not engage in risky activities like swimming or riding him.
Mr. Cavallaro mentioned that he believed he should be exempt from the new regulations enforced in 2020, as he had followed the rules until then. However, the department claimed that necessary upgrades to Albert’s enclosure were not made despite being instructed to do so.
In response, Mr. Cavallaro argued that the expenses required to comply with the regulations were exorbitant, especially considering he already had personal insurance covering Albert. Despite his plea, the department proceeded to remove the alligator and place him under the care of a licensed keeper until suitable arrangements can be made for his permanent relocation. Legal actions against Mr. Cavallaro are currently under consideration.
Having owned Albert since he was a newborn purchased at a reptile show in 1990, Mr. Cavallaro shared a close bond with the alligator, referring to him as a companion. Expressing his desire to be reunited with Albert, Mr. Cavallaro lamented the separation and vowed to do whatever it takes to bring his beloved pet back home.
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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