News
What are the challenges of drilling in outer space?
Humans have been digging underground for millennia – on Earth. It’s where we extract some of our most valuable resources that have moved society forward. For example, there wouldn’t have been a Bronze Age without tin and copper – both of which are primarily found underground. But when it comes to drilling on celestial bodies, we face unique challenges that make the process incredibly difficult. This is a significant issue that needs to be addressed if we ever hope to utilize the potential resources that lie beneath the surface of other planets and moons. A paper from Dariusz Knez and Mitra Kahlilidermani of the University of Krakow sheds light on why drilling in space is so challenging and explores potential solutions.
In their paper, the authors highlight two primary categories of difficulties when it comes to drilling off-world – environmental challenges and technological challenges. Let’s delve into the environmental challenges first.
One major obstacle when drilling on celestial bodies is the lack of an atmosphere. While some exceptions like Venus and Titan exist, most rocky bodies lack the atmosphere required to support fundamental drilling materials, such as fluids. On Earth, cooling fluids play a crucial role in drilling, preventing the drill bit or workpiece from overheating and deforming. However, in space, liquids exposed to the vacuum of space would immediately sublimate, providing little to no cooling effect. This poses a significant challenge for drilling operations, especially those conducted autonomously by rovers or landers.
Another issue is the limitations of hydraulic systems, commonly used in drilling rigs on Earth. Extreme temperature variations in space make it difficult to maintain a liquid in hydraulic systems, as they may freeze in cold conditions or evaporate in high temperatures. These challenges, coupled with other factors like abrasive regolith and the absence of a magnetic field for guidance, make drilling in space incredibly complex.
Technological challenges further complicate the drilling process off-world. Weight constraints are a critical consideration in space missions, and the heavy materials typically used in drilling rigs on Earth are not feasible for space exploration due to the high cost of launching such materials. Additionally, power sources for drilling systems in space must rely on solar cells and batteries, as traditional hydrocarbon-fueled engines are not viable off-Earth.
Despite these challenges, advancements in drilling technology are essential for the success of future space exploration endeavors, including crewed missions. To address these challenges, researchers are exploring innovative drill designs tailored for different depth categories, ranging from shallow-depth drills to large-depth drills. These designs incorporate concepts like inchworm systems and ultrasonics to enhance drilling capabilities in space.
While drilling off-world, particularly on asteroids and comets, remains a formidable task, it is essential for achieving ambitious goals like creating lunar cave cities or exploring ocean worlds like Enceladus. As we continue to refine drilling technologies and techniques, we move closer to unlocking the full potential of resources hidden beneath the surfaces of celestial bodies.
Image Caption: Curiosity’s arm with its drill extended. Credit – NASA/JPL/Ken Kremer/kenkremer.com/Marco Di Lorenzo
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?