News
Three individuals are being charged with federal gun crimes in connection with the shooting at the Kansas City Super Bowl parade.
Three men are facing federal gun charges in connection with the shooting that took place during the Super Bowl victory parade in Kansas City. This tragic incident resulted in one person losing their life and over 20 individuals being injured. The chaos ensued after an argument escalated and multiple individuals opened fire as the celebration was taking place near Union Station.
After an intensive investigation, federal prosecutors have announced charges against three Kansas City men. Fedo Antonia Manning, 21, has been charged with conspiracy to traffic firearms, engaging in firearm sales without a license, and lying on a federal form. Ronnel Dewayne Williams Jr., 21, and Chaelyn Hendrick Groves, 19, have been charged with making false statements in the acquisition of firearms. Additionally, Mr. Williams and Mr. Groves face separate charges for lying to a federal agent. The charges stem from the unlawful purchase and trafficking of weapons recovered at the shooting scene.
It is important to note that there is no evidence linking these men to the actual shooting at the parade. However, investigators have determined that the individuals were involved in straw purchases of firearms. This illegal activity involves buying a firearm for someone who is not legally allowed to obtain one. U.S. Attorney for the Western District of Missouri, Teresa Moore, emphasized the significance of enforcing federal firearms laws to prevent gun violence.
According to prosecutors, Mr. Manning purchased numerous firearms, some of which ended up in the possession of individuals prohibited from owning guns. One of the weapons recovered at the scene was traced back to Mr. Manning. Ballistics tests revealed that a bullet from Mr. Miller’s gun was responsible for the tragic death of Elizabeth Galvan, a beloved D.J. and radio host who was attending the celebration with her family. The shooting also resulted in injuries to nine children, further highlighting the devastation caused by this senseless act.
The Super Bowl victory parade turned into a day marred by tragedy as gunfire erupted, sending parade-goers scrambling for safety. The incident serves as a stark reminder of the impact of gun violence on communities and the urgent need to address illegal firearms trafficking. By holding individuals accountable for their actions and enforcing strict firearms laws, law enforcement aims to prevent similar tragedies from occurring in the future.
As the legal process unfolds, it is essential to see justice served for the victims of this violent act. The charges brought against the three men involved in firearms trafficking highlight the commitment of law enforcement to combatting illegal gun activity and ensuring the safety of the community. The repercussions of their actions have had far-reaching consequences, underscoring the importance of upholding the law and preventing further acts of violence.
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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