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Biden Works to Prevent Further Escalation Following Israel’s Effective Defense
President Biden and his team, seeking to prevent further escalation and avoid a broader conflict in the Middle East, are cautioning Israel that its successful defense against Iranian airstrikes represents a significant strategic victory that may not necessitate further retaliation, according to U.S. officials on Sunday.
The interception of nearly all of the more than 300 drones and missiles launched against Israel on Saturday night showcased Israel’s success in facing off against Iran and demonstrating its capability to protect itself and its allies, including the United States, rendering additional retaliation unnecessary, stated the officials.
It remains unclear whether Prime Minister Benjamin Netanyahu of Israel and his administration will agree to refrain from further actions as the country’s war council convened for several hours on Sunday to determine their next course of action.
On Sunday morning, the leaders of the Group of 7 major industrial democracies echoed President Biden’s stance, condemning Iran for the attack and cautioning that it could instigate an “uncontrollable regional escalation” in the Middle East.
In a joint statement, the G7 leaders emphasized the need to prevent further escalation, acknowledging the relatively light damage caused by the attack while recognizing the severity of the breach, which surpassed previous skirmishes between Iran and Israel by targeting Israeli territory from Iranian soil.
American officials asserted that Iran’s ultimate aim was to inflict widespread casualties, although the attack’s execution indicated otherwise as Iran quickly signaled its desire to de-escalate through Swiss intermediaries while the assault was ongoing.
John F. Kirby, the national security spokesperson at the White House, emphasized Iran’s failed attempts to cause significant harm given the scale of their assault. Emotions ran high among Israeli officials during discussions with American counterparts, creating pressure for retaliatory measures, although the decision rested with Israel, according to U.S. officials.
Following the Iranian attack, Israeli jets struck Hezbollah-controlled structures in Lebanon, but the connection to the Iranian airstrike remained ambiguous. President Biden reiterated his unwavering support for Israel’s security in a conversation with Mr. Netanyahu, urging restraint and strategic deliberation to avoid escalation.
In a statement released post-call, President Biden hinted at the need to break the cycle of retribution, commending Israel’s defense capabilities and deterring future threats to its security. The efforts were perceived as a gentle persuasion to dissuade Israel from escalating tensions further, as noted by Robert Satloff, the executive director of the Washington Institute for Near East Policy.
However, the American approach attracted criticism from conservative circles advocating for forceful responses against Iran, not only from Israel but also from the United States. The call for swift retaliation emerged from figures like Senator Marsha Blackburn and Speaker Mike Johnson, attributing blame to the Biden administration for the attack while highlighting the need for increased aid to Israel.
The recent clash between Israel and Iran unfolded against a backdrop of strained relations between President Biden and Prime Minister Netanyahu, exacerbated by prior disagreements over humanitarian concerns in Gaza and Israel’s military actions in the region. Tensions further escalated following Israel’s strike on Iranian officers in Syria, prompting fears of a broader conflict.
American and Israeli military coordination ahead of the attack showcased readiness for potential Iranian aggression, with President Biden deploying additional military assets to the region. The successful interception of a vast array of drones and missiles launched by Iran bolstered confidence in the defense capabilities of U.S. and Israeli forces.
Although Iran’s attack resulted in minimal physical damage, its implicit threat triggered a resolute response from Israel, underscoring the nation’s readiness to defend itself. The situation mirrored past confrontations, such as the 2020 strike ordered by President Trump against Iranian forces, culminating in a retaliatory action from Iran swiftly followed by de-escalation.
As the aftermath of the recent conflict unfolds, both Israel and the United States are navigating the delicate balance of deterrence and strategic restraint to prevent further escalation. The U.S. continues to support Israel’s security while advocating for measured responses to avoid spiraling into a full-fledged conflict with Iran.
Eric Schmitt contributed reporting from Washington.
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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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