News
Councilmember Nithya Raman surges ahead with over 50% of votes in reelection campaign
In the recent developments of the Los Angeles City Council elections, Councilmember Nithya Raman has surpassed the 50% mark in the vote count, positioning herself strongly in her bid for reelection. This significant achievement comes as a result of the latest batch of returns released on Tuesday, indicating Raman’s lead with 50.2% of the vote, compared to 39% for her closest opponent, Deputy City Atty. Ethan Weaver. Software engineer Levon “Lev” Baronian secured the third spot with approximately 11% of the vote.
Raman, in response to the latest results, expressed her excitement but maintained a cautious stance, acknowledging that the final outcome rests on the complete vote count. She emphasized her commitment to the city and her desire to continue serving the community with four more years in office.
The ongoing vote counting process is expected to resume on Wednesday, with Raman and her challengers vying to represent a district that spans across diverse neighborhoods from Silver Lake to Reseda, encompassing parts of the Hollywood Hills and the San Fernando Valley.
Notably, Raman’s reelection campaign faced a changed landscape compared to her initial election in 2020, as significant redistricting altered the boundaries of her district, incorporating new areas while removing others like Hancock Park and Park La Brea.
Under the electoral rules of the city, any council candidate exceeding the 50% threshold in the primary election secures a victory outright, a feat that Raman aims to achieve in her bid for a second term.
Meanwhile, Weaver acknowledged the tight race and expressed gratitude to his supporters for their unwavering backing. He called for patience as the remaining votes are tallied, highlighting the competitive nature of the campaign.
Weaver, a former neighborhood prosecutor, centered his campaign on issues of public safety and homelessness, garnering substantial financial support from unions, landlords, and business groups. In contrast, Raman leveraged the opposition’s significant funding as a point of critique, portraying it as indicative of special interests displeased with her progressive policies.
Raman’s growing lead in the election coincided with another progressive candidate, Ysabel Jurado, securing the top spot in her race against Councilmember Kevin de León. Jurado’s advancement in the Eastside district race further underlined the shift towards progressive politics in city governance.
As the vote counting continues countywide, election officials anticipate approximately 126,000 remaining ballots to be tallied. The unfolding results reflect a broader trend towards progressive representation and policy-making in Los Angeles, signaling a potential transformation in the dynamics of city governance.
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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