Connect with us

CBS News

5 reasons to invest in gold amid rising inflation

Avatar

Published

on


Financial objects representing economic growth
Investing in gold could make a lot of sense now that inflation is ticking back up.

Getty Images


While inflation is down from its peak of 9.1% in June 2022, it appears that the inflationary issues we’ve been facing since the pandemic aren’t over just yet. According to the latest inflation report, released on Wednesday, the inflation rate was 3.5% in March, up by about 0.3% compared to the month prior. That means inflation is still well above the Fed’s 2% target rate — and the effects are still having a detrimental impact on many people’s finances.

But inflationary issues don’t just impact the cost of consumer goods and services. Inflation can also negatively affect the value of your investments, which is why many investors are wondering what steps to take right now to protect their hard-earned wealth. And, the good news is that adding certain investments to your portfolio can help shield you from the corrosive effects of inflation.

For example, one asset that has historically performed well during periods of high inflation is gold. There are a few compelling reasons why you should consider adding gold to your investment mix to help safeguard your money right now. 

Explore your top gold investing options online today.

5 reasons to invest in gold amid rising inflation

Here are five reasons you may want to invest in gold now that inflation is headed back up:

Gold is a proven hedge against inflation 

Throughout history, gold has consistently demonstrated its ability to hold its value and even increase in price during times of high inflation. This is because gold is a tangible, physical asset that is not subject to the same erosion in purchasing power as paper currencies.

As the prices of goods and services rise due to inflation, the real value of cash holdings tends to decline. But gold, which cannot be printed or diluted like paper money, retains its intrinsic worth. This makes it an attractive option for investors looking to preserve the purchasing power of their wealth.

Find out more about how gold investing could be the right move for your portfolio.

Gold provides portfolio diversification 

Diversification is a key principle of sound investing, as it helps to reduce risk and smooth out volatility in your portfolio. And, gold is an asset that has a low correlation to many traditional asset classes, such as stocks and bonds. This means that when other investments are facing a downturn, gold can act as a stabilizing force and help offset losses.

By allocating a portion of your portfolio to gold, you can create a more well-rounded and resilient investment mix that is better equipped to weather various economic conditions, including periods of high inflation. And, by investing in gold now, you can reap these benefits at a time when inflation is ticking back up.

Gold is a safe-haven asset 

In times of economic uncertainty and market turbulence, investors often flock to safe-haven assets like gold. This is because gold is widely perceived as a reliable store of value, a characteristic that becomes increasingly valuable when other assets are experiencing volatility or downturns.

And, while we aren’t experiencing much market turbulence at the moment, gold can still come in handy. After all, there’s a lot of uncertainty about the future of the interest rate environment, and during periods of high inflation like the one we’re facing now, gold’s status as a safe-haven asset still makes it a sought-after investment. This increased demand can drive up the price of gold, as we’ve seen in recent weeks, providing investors with the potential for capital appreciation.

Gold is a finite resource 

Unlike fiat currencies, which can be endlessly printed by central banks, the supply of gold is limited. This scarcity factor is another reason why gold can hold its value during periods of high inflation. As the demand for gold rises, its price is more likely to increase, as the physical supply cannot be easily expanded to meet the growing demand. This finite nature of gold also makes it a more reliable and tangible asset compared to paper money.

Gold offers physical ownership 

Another unique advantage of investing in gold is the ability to take physical possession of the asset. Unlike stocks, bonds or many other financial instruments, gold can be held in the form of gold coins and bars or gold collectibles and jewelry. This physical ownership can provide a sense of security and control for investors. And, by having gold in your possession, you have a tangible asset that is not subject to the same risks as many other investments.

The bottom line

As inflation continues to erode the purchasing power of cash and other traditional assets, investing in gold can be a prudent strategy to protect your wealth. Between its proven track record as a hedge against inflation, the diversification benefits it offers, its safe-haven status and the finite supply, gold can be a smart addition to a well-diversified investment portfolio. But, as with any financial decision you make, be sure to consider all of the factors and make sure investing in gold while inflation is high is the right move for you.



Read the original article

Leave your vote

Continue Reading

CBS News

Israel airstrikes rock parts of Lebanon as Hezbollah launch rockets at air base near Haifa

Avatar

Published

on


The escalating fighting between Israel and Hezbollah continued Saturday as both sides traded strikes as the war in Gaza nears one year.

The Israel Defense Forces said its air force struck Hezbollah fighters inside a mosque in southern Lebanon that they said was used as a command center to “plan and execute terrorist attacks against IDF troops and the State of Israel.”

The mosque was adjacent to Salah Ghandour Hospital in the town of Bint Jbeil. The hospital said in a statement that Israeli forces had shelled it after being warned to evacuate. The shelling “resulted in nine members of the medical and nursing staff being injured, most of them seriously,” while most of the medical staff were evacuated. On Thursday, the World Health Organization said 28 health workers in Lebanon had been killed in the past 24 hours.

LEBANON-ISRAEL-PALESTINIAN-CONFLICT
A man photographs the rubble of a building leveled by an Israeli airstrike that targeted Beirut’s southern suburbs.

ANWAR AMRO/AFP via Getty Images


At the same time, 12 Israeli airstrikes hit Beirut’s southern suburbs, including one that badly damaged a large hall Hezbollah used to hold ceremonies, Lebanon’s state news agency said.

Later in the day, more strikes hit the area, from which tens of thousands of people have fled over the past two weeks.

Israeli airstrikes also hit areas in southern and eastern Lebanon, according to state media. At least six people were killed, according to NNA.

Meanwhile, Hezbollah said it launched a series of rockets at an Israeli air base near Haifa, about 30 miles from the Lebanese border. Israeli police said fragments of interceptors fell in several sites but no injuries were reported, according to the Associated Press.

Israel has sharply expanded its strikes on Lebanon in recent weeks after nearly a year of exchanging fire with the Iran-backed Hezbollah — long designated a terrorist organization by the U.S., Israel and many other nations. The IDF has been carrying out nightly bombardment of Beirut’s once densely populated southern suburbs, a stronghold of Hezbollah. Overnight, a military spokesman issued three alerts for residents there to evacuate.

Israeli airstrikes on southern Lebanon continue
A view of the completely destroyed residential buildings after the Israeli army carried out airstrikes on the Dahiyeh area south of the Lebanese capital Beirut.

Houssam Shbaro/Anadolu via Getty Images


Nearly a week of Israeli ground operations in southern Lebanon, near Israel’s northern border, and two weeks of airstrikes in that region and in southern Beirut — both Hezbollah strongholds — had killed more than 2,000 people, the health ministry said. More than 1 million people have been driven from their homes, including tens of thousands under Israel evacuation orders in almost 100 towns and villages near the border.

Hezbollah started launching those attacks in support of its ideological ally Hamas, which is also backed by Iran, the day after Hamas sparked the ongoing war in Gaza with its Oct. 7, 2023 terrorist attack on Israel. The IDF says Hezbollah militants have fired over 10,000 rockets across the border since Oct. 8, 2023. The vast majority of them have been intercepted by Israel’s advanced missile defense systems.

Israel conducts more ground raids

The Israeli military said on Saturday its special forces were carrying out ground raids against Hezbollah infrastructure in southern Lebanon, destroying missiles, launchpads, watchtowers and weapons storage facilities. The military said troops also dismantled tunnel shafts that Hezbollah used to approach the Israeli border.

Some 1.2 million people have been driven from their homes since Israel escalated its strikes in late September aiming to cripple Hezbollah and push it away from the countries’ shared border. On Tuesday, Israel launched what it calls a limited ground operation into southern Lebanon.

Nine Israeli troops have been killed in close fighting in the area in the past few days, which is saturated with arms and explosives, the military said.

Americans attempt to leave Lebanon

The U.S. government has warned Americans not to travel to Lebanon since mid-September and urged any citizens in the country to leave via commercial travel routes. As of Friday night, the U.S. State Department has assisted approximately 500 U.S. citizens, permanent residents and their families to leave Lebanon on flights organized by the agency.

Other nations are also working to evacuate their residents from Lebanon. Germany has evacuated 460 citizens on German military flights, while a Dutch military transport plane carried more than 100 citizens out of Lebanon. There were also citizens of Belgium, Finland and Ireland who were repatriated on that flight.

NETHERLANDS-LEBANON-ISRAEL-PALESTINIAN-CONFLICT
A military aircraft, the Multi Role Tanker Transport Aircraft (MRTT), departs from Eindhoven Air Force Base for Beirut to evacuate Dutch people who want to leave Lebanon.

ROB ENGELAAR/ANP/AFP via Getty Images


“It’s great that these people are safely back in the Netherlands. These have been tense times for them,” Christiaan Rebergen, secretary-general of the foreign ministry, said after they landed Friday.

Fighting ongoing in Gaza

Palestinian medical officials say Israeli strikes in northern and central Gaza early Saturday have killed at least nine people, including two children.

One strike hit a group of people in the northern town of Beit Hanoun, killing at least five people, including two children, according to the Health Ministry’s Ambulance and Emergency service.

Another strike hit a house in the northern part of Nuseirat refugee camp, killing at least four people, the Awda hospital said. The strike also left a number of wounded people, it said.

The Israeli military did not have any immediate comment on the strikes but has long accused Hamas of operating from within civilian areas.

Earlier in the day, the Israeli military had warned residents in parts of central Gaza to evacuate, saying its forces would soon operate there in response to Palestinian militants.

The warnings cover areas along a strategic corridor in central Gaza, which was at the heart of obstacles to a ceasefire deal earlier this summer. The military warned Palestinians in areas of Nuseirat and Bureij refugee camps, located along the Netzarim corridor, to evacuate to an along Gaza’s shore called Muwasi, which the military has designated a humanitarian zone. It’s unclear how many Palestinians are currently living in the areas affected by the order, parts of which were evacuated previously.

Almost 42,000 Palestinians have been killed in Gaza during the almost year-long war, according to the Palestinian Health Ministry, which does not differentiate between civilian and militant deaths.



Read the original article

Leave your vote

Continue Reading

CBS News

1-month-old twins who died with mother believed to be the youngest-known Hurricane Helene victims

Avatar

Published

on


Month-old twin boys are believed to be the youngest known victims of Hurricane Helene. The boys died alongside their mother last week when a large tree fell through the roof of their home in Thomson, Georgia.

Obie Williams, grandfather of the twins, said he could hear babies crying and branches battering the windows when he spoke with his daughter, Kobe Williams, 27, on the phone last week as the storm tore through Georgia.

The single mother had been sitting in bed holding sons Khyzier and Khazmir and chatting on the phone with various family members while the storm raged outside.

Hurricane Helene-Georgia Deaths
This undated photo combo shows from left, Kobe Williams, and her twin sons Khazmir Williams and Khyzier Williams who were killed in their home in Thomson, Ga., by a falling tree during Hurricane Helene on Monday, Sept. 30, 2024. (Obie Lee Williams via AP)

AP


Kobe’s mother, Mary Jones, was staying with her daughter, helping her take care of the babies. She was on the other side of the trailer home when she heard a loud crash as a tree fell through the roof of her daughter’s bedroom.

“Kobe, Kobe, answer me, please,” Jones cried out in desperation, but she received no response.

Kobe and the twins were found dead.

“I’d seen pictures when they were born and pictures every day since, but I hadn’t made it out there yet to meet them,” Obie Williams told The Associated Press days after the storm ravaged eastern Georgia. “Now I’ll never get to meet my grandsons. It’s devastating.”

The babies, born Aug. 20, are the youngest known victims of a storm that had claimed more than 200 lives across Florida, Georgia, Tennessee, Virginia and the Carolinas. Among the other young victims are a 7-year-old girl and a 4-year-old boy from about 50 miles (80 kilometers) south in Washington County, Georgia.

“She was so excited to be a mother of those beautiful twin boys,” said Chiquita Jones-Hampton, Kobe’ Jones’ niece. “She was doing such a good job and was so proud to be their mom.”

Jones-Hampton, who considered Kobe a sister, said the family is in shock and heartbroken.

In Obie Williams’ home city of Augusta, 30 miles east of his daughter’s home in Thomson, power lines stretched along the sidewalks, tree branches blocked the roads and utility poles lay cracked and broken. The debris left him trapped in his neighborhood near the South Carolina border for a little over a day after the storm barreled through.

He said one of his sons dodged fallen trees and downed power lines to check on Kobe, and he could barely bear to tell his father what he found.

Many of his 14 other children are still without power in their homes across Georgia. Some have sought refuge in Atlanta, and others have traveled to Augusta to see their father and mourn together, he said.

He described his daughter as a lovable, social and strong woman. She always had a smile and loved to make people laugh, he said.

And she loved to dance, Jones-Hampton said.

“That was my baby,” Williams said. “And everybody loved her.”



Read the original article

Leave your vote

Continue Reading

CBS News

Telecom providers operate emergency communications after Hurricane Helene

Avatar

Published

on


Telecom providers operate emergency communications after Hurricane Helene – CBS News


Watch CBS News



When critical infrastructure like utility lines and cell phone towers go down, emergency response teams from telecom providers like AT&T and Verizon step in with an arsenal of equipment ensuring first responders can communicate in a disaster zone. Here’s how that’s helping in the aftermath of Hurricane Helene.

Be the first to know

Get browser notifications for breaking news, live events, and exclusive reporting.




Read the original article

Leave your vote

Continue Reading

Copyright © 2024 Breaking MN

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.