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What Caused the Mystery Lights in Southern California: Rockets or Meteors?
Recently, the skies over Southern California have been a source of mystery and wonder for many residents. In the early hours of Tuesday morning, streaks of light illuminated the sky, prompting speculation about the cause. Some attributed the phenomenon to a SpaceX satellite launch that had taken place the night before at Vandenberg Space Force Base. Just a few weeks prior, another SpaceX launch had captivated viewers with its mesmerizing display of light and vapor trails.
However, the true explanation behind the lights was not as straightforward as some had assumed. It was revealed that the event was actually the result of reentry of Chinese space junk, specifically the Shenzhou 15 orbital module. Despite wild theories circulating about aliens, spy drones, or unexpected meteors, the culprit behind the spectacle was something much more mundane and terrestrial in nature.
According to Smithsonian astronomer Jonathan McDowell, the reentry of the Shenzhou 15 orbital module was the cause of the celestial fireworks that dazzled observers at 1:40 a.m. The American Meteor Society documented 85 sightings of the event from Sacramento to San Diego, with a concentration of reports coming from the Los Angeles area.
Space debris falling into Earth’s atmosphere is not an uncommon occurrence. The National Oceanic and Atmospheric Administration estimates that more than 170 million pieces of space debris are currently orbiting the Earth, posing potential risks to active satellites and, to a lesser extent, to humans on the ground. While space junk is typically not a significant concern for Earthbound individuals, it can present hazards to the network of satellites that populate the skies above.
Despite the potential dangers posed by space debris, instances of reentry events often result in visually stunning displays that captivate onlookers. Last year, Californians were treated to a similar spectacle when debris from the International Space Station burned up in the atmosphere, creating a spectacular light show.
The story behind the Shenzhou 15 orbital module dates back to November 2022, when three astronauts traveled to the Tiangong space station aboard the spacecraft. Upon completing their mission, the crew safely landed in the Gobi Desert in June, while the orbital module continued to orbit the Earth until its eventual descent back into the atmosphere.
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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