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Homicide rates nationwide declined in 2023, FBI reports
Washington — According to the latest data released by the FBI Quarterly Crime Report, nationwide homicides have experienced a significant decrease of 13%. This trend indicates a positive shift in the overall violent crime rates across the United States.
The statistics reveal a 6% decrease in violent crime in communities throughout the country in 2023, compared to the previous year. Particularly noteworthy is the 11% drop in crime rates in cities with populations exceeding 1 million.
When analyzing the geographic regions of the U.S., cities in the Northeast demonstrated the most substantial reduction in violent crime, with an 8% decline in 2023. In comparison, cities in the Midwest experienced a 7% decrease, while the West and the South saw reductions of 6% and 5%, respectively.
The newly released FBI data contradicts the widespread belief that crime and violence are escalating nationwide. A recent Gallup poll from November 2023 indicated that 77% of Americans perceived an increase in crime compared to the previous year. Additionally, nearly two-thirds of those surveyed expressed concerns about the seriousness of the crime problem, marking the highest level of apprehension since the survey’s inception in 2000.
In response to these concerns, the Justice Department initiated a violent crime reduction strategy in May 2021. The strategy aimed to allocate grants to combat the surge in gun violence, address the rise of hate crimes, and alleviate officer shortages within law enforcement agencies across the country. In November, the Department of Justice announced a funding allocation of over $217 million to hire 1,730 entry-level officers at 394 agencies in 48 states through the Office of Community Oriented Policing Services’ (COPS) hiring program.
“We know that hard-fought progress can easily unravel, and it is imperative that we remain focused and vigilant,” stated Attorney General Merrick Garland. He further emphasized, “The Justice Department is committed to collaborating with our law enforcement and community partners to drive down violent crime. Our dedication to ensuring the safety of every community in our nation remains unwavering.”
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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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