News
Panama’s Archaeologists Unearth Ancient Tomb Containing Gold Treasure and Sacrificial Offerings
Archaeologists in Panama have made a groundbreaking discovery at the El Caño Archaeological Park, unearthing an ancient lord’s tomb filled with gold treasures and sacrificial victims. This tomb, estimated to be around 1,200 years old, sheds light on the rituals and customs of the Coclé culture that once inhabited the region.
The tomb, which is believed to be the final resting place of an elite chief, contained a wealth of gold artifacts, including bracelets, belts, earrings, and circular gold plates. The treasure trove also included unique items such as gold-covered sperm whale teeth earrings, crocodile-shaped earrings, and bone flutes. Archaeologists also found skirts made with dog teeth, indicating the elaborate and intricate burial practices of the ancient civilization.
In addition to the gold treasures, the tomb also held the remains of up to 31 individuals who were sacrificed to accompany the chief in the afterlife. Dr. Julia Mayo, the director of the El Caño Foundation and the leader of the archaeological project, stated that the excavation of the burial site is ongoing, and the full extent of the sacrificial victims is yet to be determined. The chief was buried face down, a common practice in these types of burials, atop the body of a woman.
The significance of this discovery cannot be understated. Linette Montenegro, the national director of heritage at the Ministry of Culture, emphasized the historical and cultural value of the artifacts found in the tomb, stating that they hold not only economic value but also immense cultural significance. The excavation at the archaeological park began in 2022, and the findings provide valuable insights into the ancient traditions and beliefs of the Coclé culture.
El Caño Archaeological Park, where the tomb was discovered, served as a necropolis between 700 AD and 1000 AD before being abandoned. Located in the Coclé province, approximately 100 miles southwest of Panama City, the site offers a glimpse into the rich history of the region and the civilizations that once thrived there.
Overall, the discovery of the ancient lord’s tomb in Panama represents a significant milestone in archaeological research and sheds light on the practices and beliefs of an ancient civilization. The meticulous excavation and documentation of the findings will undoubtedly contribute to our understanding of the past and help preserve the cultural heritage of Panama for future generations.
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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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Is now the right time to invest in gold as prices have cooled?