News
Vladimir Putin re-elected as Russian President
President Vladimir V. Putin has once again emerged victorious in the Russian Presidential Election, solidifying his rule until 2030. The election, which lacked real competition and was heavily stage-managed, aimed to showcase overwhelming public support for Putin’s domestic control and his invasion of Ukraine.
Despite some Russians attempting to turn the undemocratic election into a form of protest by forming long lines at polling stations, the Kremlin disregarded these challenges. The official results claimed that Putin secured a staggering 87 percent of the vote, a higher percentage than in any of his previous election victories.
Following the announcement of his triumph, Putin took to the airwaves for a televised victory lap, including a news conference where he made his first comments on the death of opposition leader Aleksei A. Navalny, referring to it as an “unfortunate incident.”
With this victory, Putin is poised to further entrench his control over Russian politics and continue the conflict in Ukraine. Western governments swiftly condemned the election as undemocratic, with Adrienne Watson, a spokesperson for President Biden’s National Security Council, denouncing it as “not free nor fair.”
As Putin embarks on his fifth term as president, he appears emboldened, escalating tensions with the West. In response to questions about the possibility of a conflict between Russia and NATO, Putin remarked, “I think that anything is possible in today’s world.”
The Kremlin views these elections as essential for Putin’s portrayal as a popular leader, planning to elevate hard-line supporters within the government to advance the war agenda.
The election results, touted by the Kremlin, saw over five million votes coming from Russian-occupied regions of Ukraine. However, the true extent of popular support for Putin remains dubious, given the lack of opposition candidates, widespread fraud, and limited transparency in the electoral process.
Political scientist Grigorii Golosov described the alleged vote share as characteristic of closed autocracies, highlighting the level of control the Russian authorities have over the electoral system. The election, which lasted three days for the first time, allowed the Kremlin to manipulate turnout and minimize scrutiny of potential fraud.
Since the invasion of Ukraine, Russia has engaged in repressive measures akin to Soviet-era tactics, stifling dissent and criminalizing antiwar sentiments.
While some voters expressed pride in voting for Putin, others saw it as a form of protest against a lack of alternatives. The elections witnessed unconventional demonstrations, such as voters lining up at polling stations at noon to signify discontent.
Despite international condemnation and internal dissent, Putin’s grip on power seems unshaken as he embarks on another term as Russia’s president. The future holds uncertainties, with escalating tensions and implications for global geopolitics.
Reporting was contributed by Alina Lobzina, Valerie Hopkins, Anatoly Kurmanaev, and Milana Mazaeva.
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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