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Texas Ranchers Struggle with Devastating Losses: ‘Pretty Sickening’

The devastating impact of the recent wildfires in Texas is hitting home for many ranchers, including Justin Homen, whose vast property has been ravaged by the flames. As he surveys the charred landscape and the loss of his cattle, he can’t help but feel overwhelmed by the destruction. The once lush greenery has been replaced by desolation, with blackened grasslands and burnt carcasses painting a grim picture of the aftermath.

The largest fire in Texas history has left ranchers like Mr. Homen facing crippling losses. Thousands of cattle have perished, outbuildings have been destroyed, and homes have been reduced to ash in the inferno that swept through the Texas Panhandle. The Smokehouse Creek fire, which has now expanded to over a million acres, continues to threaten more destruction as dry, windy conditions persist.

The impact of the fire goes beyond the immediate loss of livestock and property. With scorched grazing lands, ranchers are now grappling with the challenge of ensuring their surviving cattle have enough to eat. The financial burden is also looming large, with the cost of rebuilding and restocking becoming a daunting task for many.

Tate Rosenbusch, a friend of Mr. Homen, acknowledges the uphill battle ahead for ranchers in the region. The rising cattle prices and high-interest rates make it difficult for many to recover from the devastation caused by the wildfires. The uncertainty of when and if the land will recover adds to the stress and anxiety felt by those whose livelihoods depend on the health of their ranches.

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As the community comes together to support those affected by the fires, donations of hay and other essentials offer a temporary lifeline to ranchers like Mr. Homen and Mr. Rosenbusch. However, the long-term challenges remain daunting, with the need to rebuild fences, bury dead cattle, and ensure the health and well-being of the surviving livestock.

Despite the devastation, there is a glimmer of hope as Mr. Homen and Mr. Rosenbusch look for silver linings amidst the destruction. They find solace in the resilience of their community and the unwavering spirit of ranchers who refuse to give up in the face of adversity. The road ahead may be tough, but with determination and support, they are determined to rebuild and restore their way of life.

Intellectuals Insider

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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.