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India’s Silicon Valley Faces Water Crisis
India’s Silicon Valley, Bengaluru, is facing a severe water crisis that is affecting millions of residents in the bustling tech hub. The once-thriving city is now struggling with water scarcity, forcing residents to rely on tankers and bore wells for their daily water needs. The situation has reached a critical point, with schools lacking water for basic facilities, and hospitals seeing a rise in cases of waterborne diseases.
The root cause of Bengaluru’s water crisis is attributed to poor governance and lack of planning for the city’s rapid growth. Despite receiving adequate rainfall, the city’s water management has been inadequate, leading to the depletion of groundwater reserves and reliance on unsustainable water sources. The over-extraction of water through bore wells has further exacerbated the crisis, with many bore wells running dry.
Water expert Vishwanath Srikantaiah emphasizes that the issue is not a lack of water availability but a failure of the state to effectively manage and conserve water resources. The traditional approach of pumping water from distant reservoirs is costly and inefficient, leading to significant energy consumption.
The reliance on bore wells has also contributed to the crisis, with thousands of unauthorized bore wells drilled across the city without proper oversight. Tanker drivers like Prakash Chudegowda have become lifelines for many residents, delivering water at exorbitant prices due to the increasing demand.
The effects of the water crisis are evident in schools, where children have limited access to clean water, and households have to ration their usage. Community initiatives, such as the rejuvenation of lakes and rainwater harvesting, are emerging as potential solutions to the crisis.
Amidst the crisis, there is hope for long-term solutions, with officials like Ram Prasath Manohara advocating for innovative approaches to water management. The need for public and private investment in sustainable water practices has become imperative to address the growing water scarcity in the city.
As Bengaluru grapples with its water crisis, the spotlight is on the urgent need for sustainable water management practices and governance reforms. The current situation serves as a wake-up call for the city to prioritize water conservation and build resilience against future water shortages.
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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