News
Schiff and Garvey are on the November ballot for California Senate seat
In a historic showdown, Rep. Adam B. Schiff of Burbank and retired Dodgers player Steve Garvey emerged as the top contenders in California’s highly competitive Senate primary. The Associated Press swiftly declared Schiff the winner of the primary, with Garvey following close behind. This sets the stage for a showdown in November to secure the coveted Senate seat representing the Golden State in Washington.
The primary race witnessed fierce campaigning by Schiff, Rep. Katie Porter of Irvine, Rep. Barbara Lee of Oakland, and Steve Garvey, who entered the race in October. The retirement of long-serving Senator Dianne Feinstein created a rare opportunity for new leadership in California’s political landscape. The stakes are high as the Senate seat has traditionally served as a launching pad for prominent political figures, including Vice President Kamala Harris, President Nixon, and California Gov. Pete Wilson.
California voters faced a tough decision as the Democratic challengers offered different visions of progressive politics. Schiff highlighted his extensive experience in Washington, including his notable role as a House manager during President Trump’s first impeachment trial. Porter championed a populist platform aimed at combating corporate influence, while Lee emphasized her progressive, anti-war stance. Garvey positioned himself as an alternative to the state’s existing liberal leadership.
The dynamics of the race were influenced by California’s unique “jungle primary” system, where the top two contenders advance to the general election regardless of party affiliation. Schiff and Garvey emerged as the top contenders, with Garvey’s support surging in recent weeks, particularly among Republicans. Schiff enjoys favorable odds in a Democrat vs. Republican matchup in November, with recent polls indicating a significant lead for him over Garvey.
The campaign trail was marked by intense campaigning efforts, with candidates crisscrossing the state to make their final appeals to voters. Schiff, Porter, and Lee engaged in a series of public appearances and rallies, each highlighting their distinct policy positions and vision for California’s future. Schiff garnered support from prominent Democratic leaders, while Porter and Lee rallied their respective bases with impassioned speeches and endorsements.
The race also delved into contentious issues, including the country’s military support for Israel and the ongoing conflict in Gaza. Candidates addressed these issues while highlighting their unique qualifications and priorities for the state. The campaign drew significant attention and raised millions in campaign funds, with Schiff leading in fundraising efforts.
As the November election approaches, California voters face a critical decision that will shape the future of the state’s representation in the Senate. Schiff and Garvey present distinct visions for California’s future, setting the stage for a historic showdown that will determine the state’s political trajectory for years to come.
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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