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Black couple overcomes racism to rent to Chinese family, who show gratitude by paying rent.

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Decades ago, in the early 1900s, racism and discriminatory housing practices plagued the town of Coronado, barring many individuals from living in certain neighborhoods based on their race. In the midst of this oppressive era, an inspiring story of resilience and generosity unfolded between two families — the Thompsons, a Black couple, and the Dongs, a Chinese family.

Gus and Emma Thompson, who were among the few Black families to own property in Coronado before racial restrictions took hold, defied the norms of the time by renting their house to the Dong family. Lloyd Dong Sr., a Chinese immigrant, and his wife found solace in the Thompsons’ willingness to offer them a place to call home despite the racist barriers they faced.

Fast forward 85 years later, the sons of Lloyd Dong Sr., Ron Dong, and Lloyd Dong Jr., have decided to pay forward the kindness shown to their family by donating $5 million from the sale of the house they eventually owned to San Diego State University’s Black Resource Center. This generous gift will help expand scholarships for Black students and fund renovations at the center, creating a lasting impact on the community.

This heartwarming tale of intergenerational gratitude highlights the resilience and spirit of unity that transcends racial boundaries. Brandon Gamble, the director of the Black Resource Center, expressed the profound impact of this donation on the community, emphasizing the importance of stories that challenge racism and foster a sense of camaraderie.

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Reflecting on the legacy of his father and the Thompsons, Ron Dong shared, “That was the big plus for our family, because it has made all the difference for us.” The intertwined histories of the Thompson and Dong families serve as a testament to the power of empathy and solidarity in the face of adversity.

Gus Thompson’s journey from slavery to becoming a respected community leader in Coronado, coupled with Emma Thompson’s advocacy for civil rights, exemplifies the resilience and determination of marginalized communities to thrive in the face of oppression.

The legacy of allyship and support exemplified by the Thompsons extends to their willingness to assist Asian Americans facing similar discriminatory practices. This act of solidarity echoes the sentiment that in times of oppression, helping others regardless of race is not just a gesture but a necessity.

As the Dong family embraced their new home in Coronado, overcoming discrimination and forging their path to homeownership, they carried forward the spirit of resilience and unity shown to them by the Thompsons. The bond between these two families serves as a beacon of hope and inspiration in a society marred with division and prejudice.

The Hotel del Coronado, a Victorian-style beach resort outside San Diego, and tent city on the beach, 1908.

The resilience and determination displayed by the Dong family in the face of discrimination, coupled with their unwavering commitment to education and community upliftment, exemplify the triumph of the human spirit over adversity. The decision to give back to the community through education underscores the transformative power of generosity and empathy in creating a more inclusive and equitable society.

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As the Dongs’ generous donation paves the way for future generations to access educational opportunities and resources, their story serves as a beacon of hope and inspiration for all who strive to overcome adversity and champion unity in the face of division.

Intellectuals Insider

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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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.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.