News
Guide to viewing the penumbral lunar eclipse during March’s full Worm Moon
Astronomy enthusiasts have a special treat in store this month with the occurrence of a penumbral lunar eclipse during March’s full Worm Moon.
The full moon is set to reach its peak illumination at 1 a.m. ET on Monday, but will continue to appear full through Tuesday morning, as reported by NASA. The Old Farmer’s Almanac provides specific moonrise times for various ZIP codes across the United States.
On the late evening of March 24 into the early morning hours of March 25, the full moon will pass through the Earth’s penumbra, the faint outer part of its shadow, creating a penumbral eclipse.
Understanding the Penumbral Eclipse and Visibility
The penumbral eclipse belongs to one of three types of lunar eclipses, alongside the total lunar eclipse and the partial lunar eclipse.
NASA states that the penumbral lunar eclipse will be observable to all of North and South America, making it easy to overlook if one is unaware of its occurrence.
During the eclipse, the moon will experience a slight dimming for a few hours during the night. It will enter Earth’s shadow at 12:53 a.m. ET, reach its greatest eclipse at 3:13 a.m. with 96% of the moon in partial shadow, and exit the shadow at 5:32 a.m.
The following lunar eclipse, a partial eclipse, is scheduled for September 18 and will be visible in parts of the Americas, Europe, and Africa. Enthusiasts will have to wait until March of the next year to witness a total lunar eclipse.
The Significance of the Worm Moon in March
Full moon names often draw inspiration from seasons, historical crops, and animal behaviors. The moniker “Worm Moon” likely originates from the presence of earthworms as spring approaches, as noted by The Old Farmer’s Almanac. It may also allude to worms or beetle larvae emerging from bark as trees thaw after winter.
Aside from the Worm Moon, March’s full moon is linked to various animal-related names such as Eagle Moon, Goose Moon, and Crow Comes Back Moon. It is also referred to as the Sugar Moon, Wind Strong Moon, and Sore Eyes Moon.
This year, March’s full moon is additionally known as the Paschal Full Moon as it heralds the first full moon of spring.
Other Celestial Events to Watch Out For
The upcoming month of April is set to feature one of the most anticipated celestial events of the year—April 8’s total solar eclipse. Additionally, the Lyrid meteor shower is due to peak between April 21 and 22, followed by April’s full moon, named the Pink Moon, reaching peak illumination on April 23.
May’s full moon, known as the Flower Moon, will reach its peak illumination on May 23.
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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