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These 3 precious metal investments make sense right now, experts say

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Gold can offer investors unique benefits to help round out their portfolios, but so can many other types of precious metals.

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With today’s unique economy — one that has shown job growth and strong GDP, yet high inflation and even higher interest rates — many consumers are looking for safe places to invest their cash. 

One common investment is gold, which has long been considered a smart hedge against inflation and a protector of wealth. But gold isn’t the only precious metal you can invest in, and experts say there are actually a few others you might want to eye these days, too.

Find out more about your top precious metal investing choices here.

These 3 precious metal investments make sense right now, experts say

Are you thinking of investing in precious metals other than gold? Here are a few that experts recommend right now.

Silver

Silver is usually the first precious metal to come to mind after gold — and for good reason. 

“Silver is considered a safe-haven asset like gold, with its value holding or increasing during economic turbulence or geopolitical instability,” says Rick Kanda, managing director at Group International/The Gold Bullion Company.

Silver prices have been on a steady run-up since earlier this year, and demand for the metal remains high, thanks, in large part, to the many industrial uses it has. 

“Silver has many industrial uses — batteries, solar panels, electric vehicles — which makes it valuable,” says Alex Ebkarian, co-founder of Allegiance Gold. “If industrial demand increases, it will lift silver prices higher.”

Many expect that to happen. According to Kanda, silver could rise to as much as $35 per ounce — up from just $23 per ounce at the start of the year.

“Looking at past cycles of gold and silver prices, silver tends to rally after gold and by a greater percentage,” says Patrick Yip, director of business development at American Precious Metals Exchange. “We saw this occur both in 1980 and 2011. If history repeats, silver may rise sharply later this year. If you want to get into precious metals and think you may have missed the boat on gold, now may be the time to buy silver.”

Explore how gold and other precious metals could be a smart addition to your portfolio.

Palladium

Palladium is another metal you might consider investing in, with Kanda even calling it a “rival” to other metals due to its increasing demand and limited supply.

“The main strength of investing in palladium lies in its rarity,” Kanda says. “With the metal 30 times rarer than gold, investors may benefit from potential price gains in the future depending on whether palladium remains in demand in industries such as automobiles, jewelry, and medicine.”

Kanda notes that palladium is often used in car production — namely, in manufacturing catalytic converters. With car sales expected to rise both this year and next — by about 2% to 3%, according to forecasts — that could lead to increased demand and higher palladium prices, too. 

Platinum

Platinum is another option to invest in right now — especially if you’re looking for “long-term price appreciation,” Kanda says.

“Platinum is a precious metal and is amongst the rarest in the world,” Kanda says. “Due to its scarcity, the price of platinum is sensitive and highly dependent on changes in demand and supply. “

Just be warned: Platinum tends to cost more than other precious metals. It’s currently sitting at around $950 per ounce. (Silver is only about $26 per ounce currently). 

The bottom line

While gold, silver, palladium and platinum can all be a smart addition to your portfolio, you should be sure not to over-invest in any precious metals. Most financial professionals recommend committing no more than 5% to 10% of your total portfolio to them. And, whatever metal you choose to invest in, make sure you use a reputable dealer and have a storage solution in mind. If you opt to buy metals held in a gold or silver IRA, you should also shop around for your IRA company, as they can vary widely in fees and services.



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Tajikistan nationals with alleged ISIS ties removed in immigration proceedings, U.S. officials say

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When federal agents arrested eight Tajikistan nationals with alleged ties to the Islamic State terror group on immigration charges back in June, U.S. officials reasoned that coordinated raids in Los Angeles, New York and Philadelphia would prove the fastest way to disrupt a potential terrorist plot in its earliest stages. Four months later, after being detained in Immigration and Customs Enforcement (ICE) facilities, three of the men have already been returned to Tajikistan and Russia, U.S. officials tell CBS News, following removals by immigration court judges. 

Four more Tajik nationals – also held in ICE detention facilities – are awaiting removal flights to Central Asia, and U.S. officials anticipate they’ll be returned in the coming few weeks. Only one of the arrested men still awaits his legal proceeding, following a medical issue, though U.S. officials speaking on the condition of anonymity to discuss the sensitive proceedings indicated that he remains detained and is likely to face a similar outcome. 

The men face no additional charges – including terrorism-related offenses – with the decision to immediately arrest and remove them through deportation proceedings, rather than orchestrate a hard-fought terrorism trial in Article III courts, born out of a pressing short-term concern about public safety. 

Soon after the eight foreign nationals crossed into the United States, the FBI learned of the potential ties to the Islamic State, CBS News previously reported. The FBI identified early-stage terrorist plotting, triggering their immediate arrests, in part, through a wiretap after the individuals had already been vetted by U.S. Customs and Border Protection, law enforcement sources confirmed to CBS News in June. 

Several months later, their removals following immigration proceedings mark a departure from the post-9/11 intelligence-sharing architecture of the U.S. government. 

Now facing a more diverse migrant population at the U.S.-Mexico border, a new effort is underway by the Department of Homeland Security, Department of Justice and the Intelligence Community to normalize the direct sharing of classified information – including some marked top-secret – with U.S. immigration judges. 

The more routine intelligence sharing with immigration judges is aimed at allowing U.S. immigration courts to more regularly incorporate derogatory information into their decisions. The endeavor has led to the creation of more safes and sensitive compartmented information facilities – also known as SCIFs – to help facilitate the sharing of classified materials. Once considered a last resort for the department, Secretary Alejandro Mayorkas has sought to use immigration tools, in recent months, to mitigate and disrupt threat activity.

The immigration raids, back in June, underscore the spate of terrorism concerns from the U.S. government this year, as national security agencies point to a system now blinking red in the aftermath of the Oct. 7 attacks by Hamas on Israel, with emerging terrorism hot spots in Central Asia. 

A joint intelligence bulletin released this month, and obtained by CBS News, warns that foreign terrorist organizations have exploited the attack nearly one year ago and its aftermath to try to recruit radicalized followers, creating media that compares the October 7 and 9/11 attacks and encouraging “lone attackers to use simple tactics like firearms, knives, Molotov cocktails, and vehicle ramming against Western targets in retaliation for deaths in Gaza.”

In May, ICE arrested an Uzbek man in Baltimore with alleged ISIS ties after he had been living inside the U.S. for more than two years, NBC News first reported. 

In the past year, Tajik nationals have engaged in foiled terrorism plots in Russia, Iran and Turkey, as well as Europe, with several Tajik men arrested following March’s deadly attack on Crocus City Hall in Moscow that left at least 133 people dead and hundreds more injured. 

The attack has been linked to ISIS-K, or the Islamic State Khorasan Province, an off-shoot of ISIS that emerged in 2015, founded by disillusioned members of Pakistani militant groups, including Taliban fighters. In August 2021, during the U.S. military withdrawal from Afghanistan, ISIS-K launched a suicide attack in Kabul, killing 13 U.S. service members and at least 170 Afghan civilians. 

In a recent change to ICE policy, the agency now recurrently vets foreign nationals arriving from Tajikistan, Uzbekistan and other Central Asian countries, detaining them while they await removal proceedings or immigration hearings.

Only 0.007% of migrant arrivals are flagged by the FBI’s watchlist, and an even smaller number of those asylum seekers are ultimately removed. But with migrants arriving at the Southwest border from conflict zones in the Eastern Hemisphere, posing potential links to extremist or terrorist groups, the White House is now exploring ways to expedite the removal of asylum seekers viewed as a possible threat to the American public. 

“Encounters with migrants from Eastern Hemisphere countries—such as China, India, Russia, and western African countries—in FY 2024 have decreased slightly from about 10 to 9 percent of overall encounters, but remain a higher proportion of encounters than before FY 2023,” according to the Homeland Threat Assessment, a public intelligence document released earlier this month. 

A senior homeland security official told reporters in a briefing Wednesday, that the U.S. is engaged in an “ongoing effort to try to make sure that we can use every bit of available information that the U.S. government has classified and unclassified, and make sure that the best possible picture about a person seeking to enter the United States is available to frontline personnel who are encountering that person.”

Approximately 139 individuals flagged by the FBI’s terror watchlist have been encountered at the U.S.‑Mexico border through July of fiscal year 2024. That number decreased from 216 during the same timeframe in 2023. CBP encountered 283 watchlisted individuals at the U.S.-Canada border through July of fiscal year 2024, down from 375 encountered during the same timeframe in 2023.

“I think one of the features of the surge in migration over recent years is that our border personnel are encountering a much more diverse and global population of individuals trying to enter the United States or seeking to enter the United States,” a senior DHS official said. “So, at some point in the past, it might have been primarily a Western Hemisphere phenomenon. Now, our border personnel encounter individuals from around the world, from all parts of the world, to include conflict zones and other areas where individuals may have links or can support ties to extremist or terrorist organizations that we have long-standing concerns about.”

In April, FBI Director Christopher Wray warned that human smuggling operations at the southern border were trafficking in people with possible connections to terror groups.

“Looking back over my career in law enforcement, I’d be hard-pressed to think of a time when so many different threats to our public safety and national security were so elevated all at once, but that is the case as I sit here today,” Wray, told Congress in June, just days before most of the Tajik men were arrested.

The expedited return of three Tajiks to Central Asia required tremendous diplomatic communication, facilitated by the State Department, U.S. officials said.  

Returns to Central Asia routinely encounter operational and diplomatic hurdles, though regular channels for removal do exist. According to agency data, in 2023, ICE deported only four migrants to Tajikistan.

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Here Comes the Sun: Ralph Macchio and more

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Actor Ralph Macchio sits down with Lee Cowan to discuss the sixth and final season of “Cobra Kai.” Then, Tracy Smith visits The Broad museum in Los Angeles to learn about Mickalene Thomas’ exhibition “All About Love.” “Here Comes the Sun” is a closer look at some of the people, places and things we bring you every week on “CBS Sunday Morning.”

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A surgeon is accused of drugging his girlfriend in order to control her. “48 Hours” contributor Nikki Battiste reports.

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