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Renowned Sculptor Richard Serra, known for his Monumental Works, Passes Away at 85

Renowned artist Richard Serra, who reshaped the world of sculpture with his massive and imposing works, has passed away at the age of 85. Serra, known for his bold and monumental creations, leaves behind a legacy that has left an indelible mark on the art world.

Born to a Russian Jewish immigrant mother from Odessa, Serra’s artistic talent was evident from a young age. His mother, recognizing his creative potential, nurtured his passion for art and took him to museums to further inspire his budding talent. Serra’s early drawings were a way for him to stand out and compete for attention with his accomplished older brother, Tony.

Despite initially pursuing a degree in English literature, Serra ultimately found his calling in the world of art. After transferring to the University of California, Santa Barbara, Serra studied under renowned artists and began to hone his craft. Encouraged by his mentor, Howard Warshaw, Serra applied to Yale’s art school and received a scholarship that would shape his artistic journey.

At Yale, Serra found himself among a talented cohort of artists, including the likes of Brice Marden and Nancy Graves. Influenced by notable figures such as Philip Guston and Morton Feldman, Serra began to develop his distinctive style, which would later become synonymous with his name.

Following a period in Europe with Graves, Serra embarked on a career that would see him push the boundaries of traditional sculpture. His large-scale installations and site-specific works challenged viewers to reconsider their perception of space and materiality. Serra’s bold and unapologetic approach to art earned him critical acclaim and cemented his reputation as a pioneering figure in contemporary sculpture.

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Throughout his career, Serra continued to push the boundaries of what was possible in the realm of sculpture, creating works that captivated audiences around the world. His legacy lives on in the monumental pieces that dot the landscape, reminding us of the power of art to shape our understanding of the world around us.

With the passing of Richard Serra, the art world has lost a true visionary whose impact will be felt for generations to come. His groundbreaking work continues to inspire artists and art lovers alike, serving as a testament to the enduring power of creativity and imagination. As we mourn the loss of a titan in the world of art, we also celebrate the incredible legacy that Richard Serra has left behind.

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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.