News
Jupiter’s Annual Checkup with Hubble is Here
It’s that time of year again when the Hubble Space Telescope focuses its lens on the giant planets in our Solar System as they come closest to Earth. Jupiter, the largest planet in our Solar System, had its annual checkup on January 5-6th, 2024, showcasing its magnificent beauty and stormy atmosphere. Hubble captured images of both sides of the planet, looking for changes in its atmosphere and storm activity.
These images are part of the Outer Planet Atmospheres Legacy program (OPAL), which provides a long-term record of observations of the outer planets in order to study their atmospheric dynamics and evolution as gas giants. Jupiter, which was at perigee (closest point to Earth) in November 2023, displayed its colorful clouds and ever-changing patterns and colors.
Jupiter is known for its turbulent atmosphere, with storms raging across its surface. The planet’s atmosphere extends tens of thousands of kilometers/miles deep, giving it a banded appearance. Within this stormy atmosphere, one of the most prominent features is the Great Red Spot, a massive storm that has been swirling for centuries. In the images captured by Hubble, you can see the Great Red Spot along with a smaller spot known as Red Spot Jr. These storms, along with other smaller ones, create a mesmerizing display of activity on Jupiter.
Amy Simon, the project lead for OPAL at NASA’s Goddard Space Flight Center, noted that the many storms and clouds visible in the images indicate a high level of atmospheric activity on Jupiter right now. The planet is a cauldron of swirling storms, cyclones, and anticyclones, creating a dynamic and ever-changing environment.
NASA explains that Jupiter’s banded appearance is due to air flowing in different directions at various latitudes, creating zones where the atmosphere rises (zones) and falls (belts). The interaction of these opposing flows results in storms and turbulence, giving Jupiter its distinctive look.
Hubble’s annual checkup on Jupiter allows scientists to track the dynamic changes in the planet’s atmosphere from year to year. The images captured by Hubble provide a wealth of information about Jupiter’s weather patterns, storm systems, and atmospheric dynamics. Each year, new discoveries are made that enhance our understanding of this gas giant and its complex weather systems.
In addition to Jupiter, Hubble also captured images of its moon Io, a volcanic world with colorful surface deposits. The images reveal Io’s variegated orange color, showcasing the volcanic activity on this intriguing moon.
As Hubble continues to monitor Jupiter and other outer Solar System planets under the OPAL program, we can expect more stunning images and valuable insights into the mysteries of these distant worlds. Jupiter’s annual checkup is a reminder of the beauty and complexity of our Solar System, offering a glimpse into the dynamic forces at work in the realm of the giant planets.
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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