News
Dallas Seavey wins Iditarod despite penalty for moose-gutting
Dallas Seavey has once again made history by winning his record sixth Iditarod sled dog race, despite facing numerous challenges during the competition. One of the most notable incidents occurred when Seavey’s dog team got entangled with a moose near Skwentna, Alaska. Seavey, who was permitted to carry a firearm during the race, had to shoot and kill the moose to protect his dogs. Unfortunately, one of his beloved dogs, Faloo, was critically injured in the encounter but underwent successful surgeries and was expected to recover.
After the moose was shot, the rules of the Iditarod race required Seavey to stop and gut the animal, as its meat must be taken and distributed when a large animal is killed during the competition. However, Seavey was judged to have not completed this task adequately, resulting in a two-hour penalty. Despite this setback, Seavey persevered and ultimately emerged victorious in the race.
The Iditarod is a grueling 1,000-mile race in Alaska, spanning from Anchorage to Nome. Seavey completed the race in nine days, two hours, and 16 minutes, crossing the burled arch finish line at 5:16 p.m. local time. This win marks Seavey’s sixth victory in the Iditarod, surpassing the previous record of five wins held by Rick Swenson.
At just 37 years old, Seavey has already established himself as one of the greatest mushers in Iditarod history. He first entered the race in 2005, the day after he turned 18, becoming the youngest musher ever to participate. His first win came in 2012 at the age of 25, making him the youngest winner in Iditarod history. He went on to win back-to-back-to-back races from 2014 to 2016, and added another win in 2021, tying the record for most victories. His family has a long history of involvement in the sport, with his father, Mitch Seavey, winning the race three times and his grandfather, Dan Seavey, also participating in the Iditarod.
“This one was supposed to be hard,” Seavey remarked after crossing the finish line. “It had to be special, it had to be more than just a normal Iditarod. And for me, it was.”
Seavey’s resilience and determination in overcoming the challenges he faced during the race exemplify the spirit of competition and sportsmanship that are integral to the Iditarod. His remarkable sixth victory cements his legacy as a true legend of the sport, and his achievements will undoubtedly inspire future generations of mushers to push their limits and strive for greatness in the world of sled dog racing.
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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Is now the right time to invest in gold as prices have cooled?