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Are 1-ounce gold bars a safe investment this June?
As the nation continues to grapple with high and persistent inflation, elevated interest rates, geopolitical tensions and other uncertainties, many investors are turning to gold to protect their portfolios. And that makes sense, as the precious metal’s intrinsic value and scarcity have historically made it a reliable hedge against inflation and other economic issues. And, as more investors flock to gold, the uptick in demand has been causing the price of gold to skyrocket.
While gold’s price was hovering at just below $2,000 per ounce in mid-February, the renewed interest in gold caused the price to hit a new record high of over $2,400 per ounce by late May, which was a big win for investors who bought in when the price was dipping. The price of gold has gold has cooled a bit in the time since, but it is currently sitting at $2,342.92 per ounce (as of June 3, 2024). And, today’s high price, coupled with gold’s recent upward price trajectory, continues to be a major draw for both new and seasoned investors.
But while gold can be an attractive option to consider, especially when the price is climbing, it’s important to note that its price can fluctuate, sometimes significantly, in the short term. And if you want to maximize the potential returns on your gold investment, it’s crucial to ensure that you’re making a safe and well-informed bet. So, are 1-ounce gold bars, which are one of the most affordable and accessible gold bullion options, a safe investment this June? Let’s find out.
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Are 1-ounce gold bars a safe investment this June?
Whether or not 1-ounce gold bars are ultimately the right asset to add to your investment portfolio depends on a wide range of factors, like your investment goals and asset mix. That said, in most cases, the answer to whether 1-ounce gold bars are a safe investment in June is yes — but with a few important caveats to consider.
One of the main reasons gold may be a safe investment this June is that gold has historically been a reliable long-term investment. If you look at the price trajectory of gold over the past five decades, the price has fluctuated over the shorter term but has consistently risen over the long term, outpacing inflation and providing a buffer against economic uncertainties. And, gold has held its value, even during periods of market volatility, making it an attractive option for investors seeking stability and security.
1-ounce gold bars also offer several advantages that make them a compelling investment choice. For example, their smaller size and lower price point compared to larger gold bars make them more accessible to a broader range of investors, allowing for portfolio diversification without requiring a significant upfront capital outlay. These bars are also widely recognized and easily tradable, ensuring liquidity when the need arises.
However, it’s important to note that while 1-ounce gold bars can be a valuable addition to a well-diversified portfolio, it should not be the sole investment strategy for any investor. After all, gold does not generate dividends like some other assets do, and its value is primarily driven by supply and demand dynamics.
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How to decide if 1-ounce gold bars are right for your portfolio
To decide if 1-ounce gold bars are right for your portfolio this June, consider the following factors:
Your investment horizon
Gold is generally considered a long-term investment, as the price can be volatile in the short term based on demand and other factors. So, if you have a shorter investment horizon or immediate liquidity needs, 1-ounce gold bars may not be the most suitable option.
Your risk tolerance
As noted, gold can be subject to price fluctuations, so it’s essential to assess your risk tolerance and ensure that you’re comfortable with the potential volatility. If you have a lower risk tolerance, you may want to allocate a smaller portion of your portfolio to 1-ounce gold bars (or any other gold investment you make).
Your diversification needs
Gold can help to reduce the overall risk of your portfolio by providing a hedge against inflation and market downturns. So, if your portfolio is heavily weighted toward traditional assets like stocks and bonds, adding 1-ounce gold bars to the mix can help balance your risk exposure.
The storage and security costs
Physical gold, whether it’s 1-ounce gold bars, larger gold bars or fractional gold, requires proper storage and security measures, which can incur additional costs. Consider these factors when evaluating the overall investment expense and ensure that you have a secure location to store your gold bars.
The potential tax implications
There may be tax implications associated with buying and selling physical gold. So, be aware of these potential tax liabilities and factor them into your investment decision before buying 1-ounce gold bars (or any other type of physical gold bullion).
The bottom line
For those seeking a safe haven and long-term stability, 1-ounce gold bars can be a valuable addition to a well-diversified portfolio this June — but these types of gold bars won’t be the right move for everyone. To decide if 1-ounce gold bars make sense for your portfolio, it may help to weigh your investment objectives, risk tolerance and overall financial strategy. That way, you can make an informed decision on whether these compact bullion bars align with your investment goals and provide the protection and growth potential you seek.
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Indiana conducts first execution in 15 years, puts quadruple killer to death
Michigan City, Indiana — An Indiana man convicted of killing four people including his brother and his sister’s fiancé decades ago was put to death Wednesday, without any independent witness, marking the state’s first execution in 15 years.
Joseph Corcoran, 49, was pronounced dead at 12:44 a.m. CST at the Indiana State Prison in Michigan City, Indiana, the Indiana Department of Correction said in a statement. CBS Indianapolis affiliate WTTV reports that officials said the execution process started just after midnight.
Corcoran was scheduled to be executed with the powerful sedative pentobarbital, but the state agency’s statement did not mention that drug. Corcoran’s execution was the 24th in the U.S. this year.
According to WTTV, the statement said Corcoran told officials his last words were, “Not really. Let’s get this over with.”
He was convicted in the July 1997 shootings of his brother, 30-year-old James Corcoran, his sister’s fiancé, 32-year-old Robert Scott Turner, and two other men, Timothy G. Bricker, 30, and Douglas A. Stillwell, 30.
According to court records, before Corcoran fatally shot the four victims he was under stress because the forthcoming marriage of his sister to Turner would necessitate moving out of the Fort Wayne, Indiana, home he shared with his brother and sister.
While jailed for those killings, Corcoran reportedly bragged about fatally shooting his parents in 1992 in northern Indiana’s Steuben County. He was charged in their killings but acquitted.
Last summer, Gov. Eric Holcomb announced plans to resume state executions following a yearslong hiatus marked by a scarcity of lethal injection drugs nationwide.
The state provided limited details about the execution process, and no media witnesses were permitted under state law.
Indiana and Wyoming are the only two states that do not allow members of the media to witness state executions, according to a recent report by the Death Penalty Information Center.
Corcoran’s attorneys had fought his death penalty sentence for years, arguing he was severely mentally ill, which affected his ability to understand and make decisions. This month, his attorneys asked the Indiana Supreme Court to stop his execution but the request was denied.
Corcoran exhausted his federal appeals in 2016. But his attorneys asked the U.S. District Court of Northern Indiana last week to stop his execution and hold a hearing to decide if it would be unconstitutional because Corcoran has a serious mental illness. The court declined to intervene Friday, and the U.S. Court of Appeals for the 7th Circuit did the same Tuesday.
Corcoran’s attorneys then asked the U.S. Supreme Court issue an emergency order halting his execution, but the high court denied their request for a stay late Tuesday, ending Corcoran’s options with the courts.
His sole remaining hope then became Holcomb, who could have commuted Corcoran’s death sentence. But that commutation never came and the execution proceeded as scheduled.
WTTV says Holcomb issued a statement saying Corcoran’s case “has been reviewed repeatedly over the last 25 years – including 7 times by the Indiana Supreme Court and 3 times by the U.S. Supreme Court, the most recent of which was tonight. His sentence has never been overturned and was carried out as ordered by the court.”
Indiana’s last state execution was in 2009 when Matthew Wrinkles was put to death for killing his wife, her brother and sister-in-law in 1994.
Since then, 13 executions were carried out in Indiana, but those were initiated and performed by federal officials in 2020 and 2021 at a federal prison in Terre Haute.
State officials have said they couldn’t continue executions because a combination of drugs used in lethal injections had become unavailable.
For years, there has been a shortage across the country because pharmaceutical companies have refused to sell their products for that purpose. That’s pushed states, including Indiana, to turn to compounding pharmacies, which manufacture drugs specifically for a client. Some use more accessible drugs such as the sedatives pentobarbital or midazolam, both of which, critics say, can cause intense pain.
Religious groups, disability rights advocates and others have opposed his execution. About a dozen people, some holding candles, held a vigil late Tuesday to pray outside the prison, which is surrounded by barbed wire fences in a residential area about 60 miles east of Chicago.
“We can build a society without giving governmental authorities the right to execute their own citizens,” said Bishop Robert McClory of the Diocese of Gary, who led the prayers.
Other death penalty opponents also demonstrated outside the prison Tuesday night, some holding signs that read “Execution Is Not The Solution” and “Remember The Victims But Not With More Killing.”
“There is no need and no benefit from this execution. It’s all show,” said Abraham Borowitz, director of Death Penalty Action, his organization that protests every execution in the U.S.
Prison officials said in a brief statement Tuesday evening that Corcoran “requested Ben & Jerry’s ice cream for his last meal.”
Corcoran said farewell late Tuesday to relatives, including his wife, Tahina Corcoran, who told reporters outside the prison that they discussed their faith and their memories, including attending high school together. She reiterated her request for Indiana’s governor to commute her husband’s death sentence.
Tahina Corcoran said her husband is “very mentally ill” and she didn’t think he fully grasped what was happening to him.
“He is in shock. He doesn’t understand,” she said.
CBS News
1 killed, 9 injured in shooting, fiery crash in Baltimore suburb of Towson, police say
BALTIMORE — One person was killed and nine others injured in a shooting and fiery crash in the Baltimore suburb of Towson Tuesday night, authorities said.
Law enforcement responded at around 7:15 p.m. in the 8500 block of Loch Raven Boulevard, Baltimore County Police Chief Robert McCullough said in a news briefing.
“It appears to be a mass shooting incident,” McCullough told reporters. “We have multiple persons who were shot. Right now, we are determining the circumstances and the conditions in this case.”
The first arriving officer found a vehicle on its side in flames near a funeral home, McCullough said, and then several gunshot victims were found in the area.
“There appears to be some type of incident that led to the vehicle crashing and catching on fire,” McCollough said. “Investigators are looking into the circumstances leading up to that.”
The name of the person killed and the manner of death was not released, nor were the conditions of the nine people injured. McCollough did not specify how many of the nine people injured were gunshot victims.
At this time, investigators believe this was an isolated and targeted incident, with no further threat to the community, he added. It’s unclear if any suspects have been arrested. There was no word on a possible motive.
“We will leave no stone unturned and we will dedicate every resource to this,” McCullough said. “We don’t generally see incidents like this in our community in Baltimore County. I assure you as your police chief that we will put all resources toward trying to clear this case.”
The Bureau of Alcohol, Tobacco, Firearms and Explosives was at the scene assisting police, as was the Baltimore County Fire Department.
“This is an incident that is shocking, particularly for those of us in Baltimore County,” said Baltimore County Executive Johnny Olszewski. “These types of incidents are unheard of here, so it really shocks the conscience. However, we want our residents to know that we are, as always, fully committed to ensuring that both our fire and police departments have the full support and all the resources they need from the Baltimore County government to ensure that they bring this investigation to a conclusion.”
Anyone with information is asked to call Baltimore County Police at 410-887-4636.
CBS News
Trump taps Herschel Walker for ambassador to the Bahamas
President-elect Donald Trump announced he will nominate Herschel Walker, the former football player whose 2022 Senate run was plagued by controversy, to serve as U.S. ambassador to the Bahamas.
“Herschel has spent decades serving as an Ambassador to our Nation’s youth, our men and women in the Military, and athletes at home and abroad,” Trump said on social media Tuesday night.
Walker would need to be confirmed by the Senate to assume the role. The Senate has not confirmed a U.S. ambassador to the Bahamas in over a decade. Former President Barack Obama had nominated Cassandra Butts for the role in 2014, but the Senate never even brought her nomination up for a vote, according to The Associated Press. She died in 2016.
Trump in his first term nominated Doug Manchester in 2017 for the ambassador role, but his nomination stalled for over two years. CBS News in 2019 also uncovered evidence of a possible pay-to-play scheme for the role. He eventually withdrew and Trump went on to nominate William Douglass in 2020. Douglass’ nomination was withdrawn by President Biden when he took office, and Mr. Biden in turn nominated Calvin Smyre, who has not been confirmed by the Senate.
Absent an official ambassador to the Bahamas, Kimberly Furnish currently serves in the role of Chargé d’Affaires.
Walker rose to national prominence as a star running back for the Georgia Bulldogs, winning the Heisman trophy in 1982. He spent his first few years of professional ball in the United States Football League before it folded, and then moved on to the NFL.
Walker reentered the national spotlight when, at Trump’s urging, he challenged Georgia’s Democratic Senator Raphael Warnock for his seat in 2022. The race featured several controversies, including two women claiming that Walker — who was running as an anti-abortion candidate — had paid for them to get abortions.
Walker denied both allegations.
In one instance, Walker admitted to writing a check for a woman who said he paid for her to get an abortion in 2009, but he said he hadn’t known what the money was for.
Another woman claimed Walker paid her to get an abortion while the two carried out a six-year relationship while he was married to another woman and playing in the NFL. During a news conference back in 2022, she said she couldn’t go through with the procedure when she went to get it herself, so Walker took her to a clinic in the Dallas area the next day and waited for her while she got the abortion.
“This was a lie a week ago and it is a lie today,” Walker said at the time following an interview the woman gave a week after the initial news conference.
Warnock would go on to win the election in a runoff after neither candidate received more than 50% of the vote on election day.
Aaron Navarro and
contributed to this report.