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Two Silicon Valley Congressional Candidates Deadlocked in Second Place

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In a surprising turn of events, two Silicon Valley congressional candidates find themselves tied for second place, with the top three candidates appearing to secure spots on the November ballot. Santa Clara County Supervisor Joe Simitian and Assemblymember Evan Low of Campbell have been neck-and-neck throughout the race, consistently trading positions by just a vote or two. The final tally shows both candidates with 30,249 votes each, putting them in a dead heat for second place.

Former San Jose Mayor Sam Liccardo has maintained his lead in first place since the primary, garnering over 38,000 votes and securing his spot on the November ballot. The competition among the three Democratic candidates has been intensifying, with political consultant Marva Diaz likening it to a slow-motion race that has kept supporters and observers on edge.

This unprecedented situation is a rarity in California’s nonpartisan primary system, where the top two finishers typically advance to the general election regardless of party affiliation. In the case of a tie for second place, state elections code dictates that both candidates move forward to the November ballot along with the first-place winner.

The candidates are vying to fill the seat of retiring Rep. Anna Eshoo in a heavily Democratic district that spans parts of Santa Clara and San Mateo counties. While the results are not yet official, both counties have stated that all ballots have been processed, with final tallies expected to be certified by the secretary of state’s office on April 12.

The presence of three Democratic candidates with strong campaigns and fundraising efforts could significantly impact the dynamics of the November election, according to Diaz. Running against multiple opponents adds complexity and challenges to the race, as each candidate seeks to differentiate themselves and win over voters in a crowded field.

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The retirement of Rep. Eshoo after more than three decades in Congress has set the stage for a competitive race among Democrats, who hold a significant registration advantage in the district. The cities of Palo Alto, Mountain View, and part of San Jose are among the areas encompassed by the 16th Congressional District.

As the candidates await official certification of the election results, the option of requesting a recount remains on the table. However, the decision to pursue a recount is complicated by the risk of potentially losing a spot on the ballot. Both Simitian and Low will need to weigh their options carefully as they consider their next steps in the race.

Overall, the tight competition and uncertain outcome in California’s 16th Congressional District have captured the attention of voters and political observers alike. With the stakes high and the race heating up, all eyes are on the candidates as they prepare for the final stretch leading up to the November election.

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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.