News
Unusual Blizzard Warning Issued for Mammoth and Tahoe
A rare blizzard warning has been issued for the Sierra Nevada region, affecting popular ski resorts at Mammoth Mountain and around Lake Tahoe. Officials are advising people to avoid travel during the treacherous weather expected from Thursday through Sunday.
The latest forecasts predict up to 8 feet of snow to fall in the area. The blizzard warning stretches from Lassen Volcanic National Park in Shasta County to Kings Canyon National Park in Fresno County.
The most extreme conditions are expected on Friday night through Saturday morning, with heavy snowfall and strong winds causing snow to accumulate at a rate of 3 to 5 inches per hour. Wind gusts on the Sierra crest are forecasted to exceed 100 mph, potentially leading to power outages and fallen trees.
The National Weather Service office in Reno strongly emphasized the dangers of traveling during this time, warning of disorienting whiteout conditions and urging residents to prioritize safety. They stated, “Whiteout conditions are very disorienting, so this is not the time to gamble with you or your family’s lives, especially over a planned weekend ski vacation.”
Predictions suggest that elevations above 7,000 feet in the Tahoe Basin could receive 4 to 8 feet of snow, while towns around Lake Tahoe may see 2 to 4 feet of snow. In Mono County, where Mammoth Mountain is situated, 3 to 6 feet of snow is anticipated along the Sierra crest, with 1 to 3 feet expected along Highway 395.
Authorities are urging residents to take the storm seriously and make necessary preparations. Travelers are advised to have a winter kit and extra supplies if they must journey through the Sierra during the storm. The weather service office in Reno cautioned, “Nothing like an unsafe, impromptu camping trip in your car on Donner Pass.”
Flight delays, canceled flights, tire chain requirements for motorists, and disorientation from whiteout conditions are all potential hazards of this severe weather event. Donner Pass on Interstate 80 and Echo Summit on Highway 50 are forecasted to receive 6 to 8 feet and 5 to 7 feet of snow, respectively.
Additionally, caution is advised when traveling on roads above 1,000 feet in northwest California, where heavy snowfall is expected down to elevations as low as 500 feet. Interstate 5 near the city of Mount Shasta could receive up to 18 inches of snow.
Southern California may experience lighter snowfall, with a 20% to 30% chance of up to 1 inch of snow along Interstate 5 over the Tejon Pass and 1 to 2 inches along Highway 58 over the Tehachapi Pass.
The blizzard warning extends to areas of Yosemite National Park and Yosemite Valley, with heavy snow accumulation and blowing snow expected. While the storm is anticipated to lessen by Sunday, scattered snow showers may persist.
In surrounding areas, such as Los Angeles, Ventura, the San Francisco Bay Area, and the Sacramento Valley, rain, snow, and gusty winds are forecasted throughout the weekend.
Despite the challenges posed by this storm, residents and travelers are encouraged to stay informed, heed official warnings, and prioritize safety above all else.
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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Is now the right time to invest in gold as prices have cooled?