News
Historic Paris Waiters Race Makes a Comeback Ahead of Olympics
Paris Waiters Race is a storied competition that has returned before the Olympics, capturing the essence of Parisian culture and hospitality. The revival of this annual event, which had been on hiatus for over a decade, brought together approximately 200 cafe and restaurant waiters who showcased their skills and agility in a race through the city streets. The contestants, both men and women, followed strict rules to complete the race with laden trays intact, carrying a croissant, a glass of tap water, and a small coffee cup.
Paris, known for its rich culinary heritage, boasts over 15,000 bars, cafes, and restaurants, making it a vibrant hub for dining and socializing. The waiters race was not only a celebration of Parisian cafe culture but also a nod to the city’s upcoming role as the host of the Summer Olympics. The event demonstrated that enjoying a cup of coffee or a meal at a bistro is just as integral to the Parisian experience as visiting iconic landmarks like the Louvre or the Eiffel Tower.
The competition brought together waiters from renowned establishments like Les Deux Magots and La Tour d’Argent, as well as enthusiastic participants who were simply happy to be a part of the event. While some contenders were seasoned veterans, others, like first-time racer Fabrice Di Folco, embraced the opportunity to run alongside their peers. The race was not just limited to waiters but open to anyone working in the service industry, showcasing the diversity and camaraderie within the hospitality sector.
Participants navigated through the bustling streets of Paris, cheered on by spectators and television crews, creating a buzz reminiscent of the Tour de France. The more competitive waiters displayed an intense power walk, racing to the finish line in impressive times. The event attracted a mix of experienced professionals and newcomers, all united by their passion for their craft and the city they represent.
As judges meticulously inspected the integrity of the contestants’ trays at the finish line, the suspense and excitement grew. Any infractions incurred penalties, adding to the drama of the competition. Despite the challenges, the spirit of sportsmanship and camaraderie prevailed, highlighting the dedication and skill of Parisian waiters.
The revival of the Paris Waiters Race not only honored a longstanding tradition but also showcased the resilience and vibrancy of the city’s hospitality industry. As Paris gears up to host the Olympics, events like this race serve as a reminder of the enduring allure of Parisian cafe culture and the essential role that waiters play in shaping the city’s unique energy and charm.
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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