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The frontman of Raspberries and singer of ‘All By Myself’, Eric Carmen, passes away at 74
Eric Carmen, the frontman of the Raspberries and the voice behind the iconic song “All By Myself,” has passed away at the age of 74. His wife, Amy Carmen, announced his death on his website, revealing that he passed away peacefully in his sleep over the weekend. The music world is mourning the loss of a talented artist whose music touched the hearts of many.
The Raspberries, a power-pop band from Cleveland, made their mark on the rock scene in 1972 with their self-titled debut album. Their hit song “Go All the Way” is considered a defining power pop anthem, blending bright vocal harmonies with heavy guitar riffs. The band’s influence on the music industry would continue to grow over the years, solidifying their place in rock history.
Despite some critics dismissing the Raspberries as passé, the band earned critical acclaim and even caught the attention of music legends like John Lennon, who was photographed wearing a Raspberries shirt. After the band disbanded in 1975, Eric Carmen embarked on a successful solo career, delving into the world of soft rock.
Carmen’s solo hits, including “All By Myself” and “Hungry Eyes,” became instant classics, propelling him to stardom in the 1980s. His songs were featured on popular soundtracks like “Footloose” and “Dirty Dancing,” further cementing his place in music history. Carmen’s talent as a songwriter and performer led to covers of his songs by artists like Celine Dion and John Travolta.
In 2004, the Raspberries reunited for a tour, reigniting their legacy and introducing their music to a new generation of fans. The band’s live album, “Raspberries Pop Art Live,” captured the energy and magic of their performances, with filmmaker Cameron Crowe even writing the liner notes. Carmen’s impact on the music industry was felt far and wide, with artists like Ringo Starr recognizing his talent.
Despite the ups and downs of his career, Carmen remained humble about his success and the impact of his music. His ability to connect with audiences of all ages and backgrounds solidified his status as a music icon. The music world has lost a true talent, but Eric Carmen’s music will continue to live on in the hearts of his fans.
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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