News
TSA Discovers Over 1,500 Firearms on Airline Passengers in a 3-Month Period
In the first three months of the year, federal officials discovered over 1,500 firearms on travelers passing through airport security checkpoints nationwide. According to the Transportation Security Administration (TSA), roughly 93% of the firearms found were loaded, raising significant safety concerns.
During the first quarter of 2024, the TSA screened more than 206 million passengers, resulting in the discovery of 1,503 firearms. This amounts to an average of 16.5 firearms found daily at airports across the country, a slight decrease from the previous year’s rate of 16.8 firearms per day or 7.9 firearms per one million passengers.
TSA Administrator David Pekoske emphasized the importance of proper handling of firearms while traveling. He stated, “While it is certainly promising that the rate of passengers bringing firearms to the checkpoint has decreased, one firearm at the checkpoint is too many. The demand for air travel is as strong as ever and security is always our number one priority. Every time we discover a firearm at the checkpoint, the security screening process is slowed down for all.”
Pekoske reminded travelers that they can transport firearms, but they must be appropriately packed and checked in their baggage. Firearms should be declared to the airline at the ticket counter and must be packed unloaded in a hard-sided case. He also advised passengers to start with a clean bag to ensure no prohibited items are present.
In the event that a firearm is discovered at a security checkpoint, the TSA does not confiscate the weapon but contacts local law enforcement to safely handle and take possession of it. This could result in the arrest or citation of the passenger, as well as fines of up to $15,000. Additionally, the passenger may lose access to expedited TSA screening for up to five years.
While the number of firearms discovered in the first quarter of 2024 increased compared to the previous year, the TSA has not provided specific data for individual airports. In 2023, a total of 145 guns were found at five Southern California airports, with LAX accounting for the highest number at 81 firearms.
Security officers at these airports found 33 firearms in the first quarter of 2024 and 37 in the previous year, indicating a concerning trend. LAX continues to lead in firearm discoveries, with 16 instances in 2024 and 18 in 2023.
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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