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Is gold still a good investment heading into 2024?

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A gold investment in 2024 can still be valuable for many Americans.

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There were clear advantages to saving in 2023 and obvious disadvantages to borrowing. 

Thanks to nagging inflation and the Federal Reserve’s attempts to rein it in with higher interest rates, borrowing costs for millions of Americans skyrocketed. At the same time, savers saw significant returns on their money, especially if they deposited it into a high-yield savings or certificate of deposit (CD) account. So it was clear what financial moves to make and what to avoid.

But what about investing? That’s always a tricky question, particularly in the economic climate of 2023. Against this backdrop, many have turned to precious metals, and specifically gold. Gold investing hit an 11-year high earlier this year for multiple reasons. So, with a new year on the horizon and a changing economy to account for, is gold still a good investment heading into 2024? Or should you look to put your money elsewhere?

Start by reviewing your gold investing options here to learn more about this unique opportunity.

Is gold still a good investment heading into 2024?

Here are three reasons why gold — in its myriad forms — can still be a valuable investment as we get into 2024.

Inflation is still persistent

Inflation has certainly come down significantly from the 40-year high it hit in June 2022. But it’s still above the Federal Reserve’s 2% target goal. As such, interest rates could go higher, but will likely remain at least where they are for the foreseeable future. Fortunately, gold can help in times like these. 

Known for its hedge against inflation, gold often maintains its value during inflationary periods, and is even known to tick up in price when other assets are hurt by inflation. So it’s likely worth putting a portion of your portfolio into gold — both to help with today’s cooling but still present inflation and to provide a buffer for future economic headwinds.

Learn more about how gold can help with inflation here.

The price is rising

If you’re looking for an investment that’s increasing in value, then gold may be an option for you. The price of gold today, December 5, 2023, is $2,025.74 per ounce. That’s up 11% from the $1,821.35 price point the precious metal sold for in early October. And, if history is an indicator, it could be heading up further in the months and years to come. 

That said, gold is not generally considered to be an income-producing asset in the same way that stocks, bonds and real estate are. So while it can pay to get in now before prices rise further, your ability to generate income or make a substantial return is unlikely to come in the short term.

It can diversify your portfolio

Gold is a great way to diversify a portfolio that’s otherwise made up entirely of stocks and bonds. A gold investment can offset losses felt in those asset classes by maintaining its value when those others appear shaky. But the right amount to invest — and the type of gold you invest in — will vary based on your experience, investment horizon and other personal factors. Most experts recommend limiting it to just 10% of your overall portfolio, but you may keep an even smaller amount, depending on your investor profile.

Speak to a gold investing expert here to determine which makes sense for you.

The bottom line

Gold has been a worthwhile investment for many in 2023, but that worth won’t immediately vanish once the calendar turns to 2024. In fact, gold can still be valuable in the new year, too. Thanks to the buffer it can provide against inflation (today’s and that yet to come) and a rising price, gold is still worth investing in for many heading into 2024. And it can provide the diversification for your portfolio that other asset classes simply cannot. For these three reasons, gold can still be a good investment come January for many people.



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Biden heads to Wisconsin to kick off critical weekend for 2024 campaign

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Washington — President Biden is set to travel to the battleground state of Wisconsin on Friday for a campaign rally, marking the start of a crucial weekend for his reelection bid as he seeks to assuage concerns about his fitness for a second term sparked by his startling debate performance just over one week ago.

In addition to the campaign event in Madison, Wisconsin, on Friday afternoon, Mr. Biden will tape an interview with ABC’s George Stephanopoulos, which the network said will air in full Friday night. The president will also head to Philadelphia for another campaign event on Sunday, capping the July 4 holiday weekend with a visit to a second battleground state.

The president’s appearances are coming under new scrutiny following his poor showing against former President Donald Trump, the presumptive Republican nominee, in the first general election debate on June 27. Mr. Biden blamed his performance on a busy travel schedule leading up to the face-off with Trump, saying during a campaign event Tuesday that he “almost fell asleep” on stage after making two trips to Europe in June.

In a pair of radio interviews that aired Thursday, Mr. Biden admitted he had a “bad debate” and that he “screwed up.”

Mr. Biden’s campaign and the White House sought to brush off concerns about his lackluster performance by insisting he had a cold and that the debate fiasco was simply a “bad night.” As part of efforts to quiet concerns about Mr. Biden and his age, he and Vice President Kamala Harris participated in a call with campaign staff on Wednesday, and they met with 20 Democratic governors at the White House later that evening. Mr. Biden also spoke with the Democratic leaders of the House and Senate, as well as other key allies on Capitol Hill.

The president has maintained the same message throughout the outreach, according to participants: he is in the race to defeat Trump and will not be pushed out.

“I learned from my father, when you get knocked down, just get back up, get back up,” Mr. Biden told “The Earl Ingram Show,” which airs in Wisconsin, in the radio interview Thursday. “And you know we’re going to win this election, we’re going to just beat Donald Trump.”

Amid the assurances, two House Democrats have openly called on Mr. Biden to withdraw from the presidential race: Reps. Lloyd Doggett of Texas and Raúl Grijalva of Arizona. Others, meanwhile, have publicly urged the president to take steps to prove to voters, elected Democrats and party donors that he is fit for a second term in the White House.



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Second round of voting in France this weekend as antisemitism concerns rise in Europe

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Second round of voting in France this weekend as antisemitism concerns rise in Europe – CBS News


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There will be a second round of voting in France on Sunday after the far-right’s Marine Le Pen won big against President Macron in the first round. Some prominent Jewish figures in France say there’s been more antisemitism on both sides as tensions have grown across Europe since the start of the war in Gaza.

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Vatican excommunicates ex-ambassador to U.S., Archbishop Carlo Maria Viganò, declares him guilty of schism

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A firebrand conservative who became one of Pope Francis’ most ardent critics has been excommunicated by the Vatican.

Archbishop Carlo Maria Viganò, who once served as the Vatican’s ambassador to the U.S., was found guilty of schism. The Vatican’s doctrine office imposed the penalty after a meeting of its members on Thursday, a press statement said Friday.

The office cited Viganò’s “refusal to recognize and submit to the Supreme Pontiff, his rejection of communion with the members of the church subject to him and of the legitimacy and magisterial authority of the Second Vatican Council,” as its reasoning for the ruling.

Viganò, who retired in 2016 at age 75 and was the papal envoy in Washington from 2011-2026, convulsed the Holy See with accusations of sex abuse in 2018, calling on Francis to resign.

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Archbishop Carlo Maria Vigano, the then-Apostolic Nuncio to the United States, listens to remarks at the United States Conference of Catholic Bishops’ annual fall meeting in Baltimore.

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In an 11-page letter, Viganò claimed that in 2013 he told Francis of the allegations of sex abuse against former Cardinal Theodore McCarrick. But, he wrote, the pontiff ignored that, and allowed McCarrick to continue to serve the church for another five years publicly. He said the pope should resign and subsequently branded him a “false prophet” and a “servant of Satan.”

In the letter, Viganò also made a number of ideological claims and was critical of homosexuals within Church ranks. He did not offer any proof for his statements.

The Vatican rejected the accusation of a cover-up of sexual misconduct and last month summoned Viganò to answer charges of schism and denying the pope’s legitimacy.

Viganò, who regarded the accusations “as an honor,” said he refused to take part in the disciplinary proceedings because he did not accept the legitimacy of the institutions behind it.

“I do not recognize the authority of the tribunal that claims to judge me, nor of its Prefect, nor of the one who appointed him,” he said in a statement issued last week, referring to the head of the doctrinal office, Cardinal Victor Manuel Fernandez, and to Francis.

Viganò restated his rejection of Vatican Council II, calling it “the ideological, theological, moral and liturgical cancer of which the (Francis’) ‘synod church’ is the necessary metastasis.”

He had not yet commented on the Vatican’s ruling on Friday.

McCarrick, the ex-archbishop of Washington, D.C., was defrocked by Pope Francis in 2019 after an internal Vatican investigation found he sexually molested adults as well as children. 



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