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Despite harsh suppression, critics make their voices heard as Putin hails election victory.
President Vladimir Putin celebrated his election victory, which was practically guaranteed, with officials announcing that he had secured his fifth term with an unprecedented number of votes, solidifying his firm grip on Russia’s political landscape.
Despite facing minimal competition and ruthlessly suppressing dissenting voices, Putin secured another six years in power.
The Central Election Commission of Russia reported that Putin garnered 87.29% of the vote with nearly all precincts counted, translating to almost 76 million votes – his highest ever tally. Putin, 71, interpreted the landslide victory as a sign of trust and hope in his leadership, while critics viewed it as yet another instance of the inevitable outcome of a predetermined election.
If Putin completes his upcoming term, he will surpass any Russian leader’s tenure since Catherine the Great in the 18th century, as noted by Agence France-Presse.
Public criticism of Putin or his activities in Ukraine has been systematically silenced. Independent media outlets have been dismantled, and prominent figures critical of Putin, like Yevgeny Prigozhin and Alexey Navalny, either perished under suspicious circumstances or face constraints like imprisonment or exile.
While the election offered voters minimal choice, impartial monitoring was severely restricted, raising concerns about the validity of the process.
Putin received congratulatory messages from global leaders like Xi Jinping, Kim Jong Un, and others, while Western nations disregarded the legitimacy of the election. British Foreign Secretary David Cameron condemned the process as not reflective of free and fair elections.
Ukrainian President Volodymyr Zelenskyy denounced Putin as a “dictator” drunk on power, criticizing his actions and character. The voting extended to Russian-occupied territories of Ukraine drew condemnation from 50 countries, with the U.S. characterizing it as a sham election.
Despite severe suppression, critics managed to voice dissent during the election, with Russians assembling outside polling stations to express their disapproval. Notable was Yulia Navalnaya, widow of Alexey Navalny, who waited in line for hours in Berlin and inscribed her late husband’s name on her ballot.
Some Russians openly opposed Putin at the polls, with individuals like Vadim in Moscow hoping for change. However, arrests were made for various acts of protest, highlighting the challenging environment for dissent.
Supporters of Putin also showed their unwavering loyalty, reflecting the prevailing sentiment in a nation where divergent views are unwelcome. Dmitry Sergienko voiced contentment with the status quo, exemplifying the sentiments of many who endorse Putin’s governance.
The election results, while affirming Putin’s unyielding authority, also showcased the subdued undercurrent of opposition that persists despite stringent regulations. The varied responses from the public underscore the complexities and contradictions within Russia’s political landscape.
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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