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Officials Confirm Recovery of Third Victim’s Body in Bridge Collapse

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The tragic collapse of the Francis Scott Key Bridge in Baltimore has claimed the lives of three construction workers, with the body of the third victim, 38-year-old Maynor Yasir Suazo Sandoval, being recovered on Friday morning, officials confirmed.

The discovery was made by divers, as announced by local authorities, marking a significant development in the recovery efforts following the devastating incident. Col. Roland L. Butler Jr., superintendent of the Maryland state police, expressed the challenging nature of the tragedy in a statement, highlighting the collaborative efforts of various public safety agencies in the search and recovery mission.

The recovery of Mr. Suazo Sandoval’s body came just hours before President Biden’s visit to the site of the disaster, where he met with the families of the victims. Despite this progress, three more victims remain unaccounted for, more than a week after the bridge collapsed into the Patapsco River.

Mayor Brandon Scott expressed a mix of relief and empathy, acknowledging the closure brought by the recovery while recognizing the continued anguish of families awaiting news of their missing loved ones.

The tragic incident occurred during the early hours of March 26 when a cargo ship collided with the bridge, resulting in the disappearance of six construction workers. While two workers survived, the fate of the others was grimly presumed. Two bodies were discovered the following day, trapped inside a submerged red pickup truck, but ongoing efforts to locate the remaining victims have been hindered by the extensive underwater debris.

Divers have been diligently combing through the wreckage, facing challenging conditions with limited visibility and intricate obstacles of twisted steel and concrete. Utilizing sonar technology, they aim to map and clear the debris to facilitate the recovery operation amidst the broader restoration efforts.

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Col. Estee S. Pinchasin of the Army Corps of Engineers emphasized the integrated approach of recovery within the broader plan, underscoring the importance of honoring the victims’ memory through comprehensive efforts.

The identities of the victims have been confirmed, reflecting a diverse group of individuals from various Latin American countries. Alongside Maynor Suazo Sandoval, the deceased include Jose López, Alejandro Hernandez Fuentes, Carlos Hernández, Dorlian Ronial Castillo Cabrera, and Miguel Luna, each with their own story and contribution to the community.

These workers were dedicated to their labor, ensuring the functionality of critical infrastructure for their fellow Marylanders. Their absence has left a void in their communities, with advocacy groups and officials emphasizing the significance of their efforts and the lasting impact of their work.

In the aftermath of the tragedy, families and friends of the victims grapple with uncertainty and grief, seeking closure and answers amidst the ongoing recovery process. Donna Batkis, a clinical social worker providing support to the families, highlighted the profound challenges faced by those awaiting news of their missing loved ones.

As the community mourns the loss of these individuals, there is a collective recognition of their sacrifices and the need to remember their contributions. Governor Wes Moore reaffirmed the dignity of their work and the enduring legacy they leave behind, underscoring the importance of honoring their memory.

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Is now the right time to invest in gold as prices have cooled?

Now may be the time to buy gold following a recent lull in its price.

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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.

Joshua Rodriguez

Joshua Rodriguez is a personal finance and investing writer with a passion for his craft. When he’s not working, he enjoys time with his wife, two kids, two dogs and two ducks.