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Archaeologists unearth 4000-year-old temple and theater in Peru
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Archaeologists have uncovered the remains of what appears to be a 4000-year-old temple and theater in coastal Peru.
The discovery was made at the archaeological site La Otra Banda, Cerro Las Animas, located near the city of Chiclayo off the northern Coast of Peru, according to a news release from the Field Museum.
Researchers started digging at the site last month after the local government alerted them to looting happening near the traditional town of Zaña. Scientists needed to “study the area before it was destroyed,” the local government said.
The excavation – led by scientist Luis Muro Ynoñán – revealed walls of mud and clay just six feet beneath the surface and evidence suggesting that the structure was once home to an ancient temple. “It was so surprising that these very ancient structures were so close to the modern surface,” said Muro Ynoñan in the statement.
Peru’s Pontifical Catholic University/Handout via REUTERS
“We think that a large temple was built into the side of the mountain, and we’ve found one section of it,” said Muro Ynoñan. The Ministerio de Cultura, or Ministry of Culture in Peru said special ceremonies were held inside the temple.
The team also uncovered what appeared to be a small theater with a “stage-like platform.”
“This could have been used to perform ritual performances in front of a selected audience,” said Muro Ynoñan.
Among the most interesting findings was a carving of a mythological bird creature etched into a mud panel by one of the theater’s staircases. Muro Ynoñán described it as an “anthropomorphic bird” with “some reptilian features.”
He and his team have found similar representations of the mythological creature on other archaeological digs that date back to the Initial Period, roughly 4,000 years ago.
Peru’s Pontifical Catholic University/Handout via REUTERS
The findings, Muro Ynoñán said, could shed light on unanswered questions about the origins of ancient religion in Peru.
“The Initial Period is important because it’s when we first start to see evidence of an institutionalized religion in Peru,” says Muro Ynoñan. “The bird creature at this temple resembles a figure known from the Chavín region, nearly 500 years later. This new site could help reveal the origins of this religion.”
According to the release from the Field Museum, the temple predates Machu Picchu – Peru’s most well-known archaeological site located in Cuzco – by roughly 3,500 years. The Incas built Machu Picchu around 600 years ago.
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8/28: CBS News 24/7 Episode 2
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Here’s how much the price of gold has increased so far in 2024
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From its role as a safe haven in turbulent times to its reputation as a hedge against inflation, gold has consistently proven its worth as an investment asset. By adding gold to your investment portfolio, the precious metal can provide a buffer against market volatility and offer protection against potential losses in other asset classes — which is part of why so many investors are drawn to it.
But gold’s unique portfolio-boosting benefits aren’t the only draw, especially right now. Since the start of the year, the price of gold has been on an upward trajectory, growing in value by hundreds of dollars and breaking numerous price records on its uphill climb. That has prompted even more investors — both beginners and seasoned veterans alike — to turn their attention toward the yellow metal.
How much has the price of gold increased so far this year, though — and is it likely to keep climbing over the last few months of 2024? Below, we’ll detail what you should know.
Don’t miss out on what gold can offer. Compare your top gold investing options now.
How much the price of gold has increased so far in 2024
The story of gold so far in 2024 has been one of impressive and consistent growth. On January 1, gold was trading at $2,063.73 per ounce. Fast forward to August 28, and the price has soared to $2,502.53 per ounce. This represents a staggering increase of $438.80 per ounce — or an uptick of approximately 21.26% in just under eight months.
To put this into perspective, if you had invested $10,000 in gold at the beginning of the year, your investment would now be worth about $12,126 – a profit of over $2,000 in less than a year. This remarkable growth outpaces many other investment options and has solidified gold’s status as a top-performing asset in 2024.
It’s worth noting, though, that gold recently surpassed its prior records, climbing to a high of $2,525 per ounce on August 20. While the current price of $2,502.53 represents a slight dip from this peak, it still signifies an extraordinary year-to-date performance. This minor pullback from the all-time high is not uncommon in financial markets and is likely a healthy consolidation after a strong upward move.
Find out how gold could be a smart addition to your portfolio.
Will the price of gold keep climbing?
Despite the impressive gains gold has already made, many analysts believe that the precious metal’s upward trajectory may not have peaked just yet. Various factors point to the possibility of continued price appreciation in both the near and long term.
One key driver is the shifting dynamics of global demand. In addition to sustained demand from traditional investors, merging economies are showing a heightened appetite for gold. This expanding consumer base could provide sustained upward pressure on gold prices.
The gold mining industry also faces significant challenges on the supply side. New gold discoveries have become increasingly rare and existing deposits are often in remote regions. The process of gold extraction is also becoming more complex and costly as easily accessible reserves are depleted. These supply constraints, juxtaposed against rising demand, create a favorable environment for price growth.
Another factor to consider is the evolving role of gold. As technology advances, gold’s unique properties have become critical to new applications in fields such as electronics, healthcare and renewable energy. The expansion of gold’s industrial uses could contribute to increased demand, potentially supporting higher prices over time.
Central banks worldwide are also continuing to bolster their gold reserves, a strategy often seen as a hedge against economic uncertainties and currency fluctuations. This consistent demand from major financial institutions provides another pillar of support for gold prices.
Given these factors, some experts are projecting ambitious price targets for gold. While forecasts should always be viewed with caution, many analysts believe gold could reach new milestones in the coming months, with some even suggesting it could approach or surpass $3,000 per ounce before the year’s end.
The bottom line
Gold’s performance so far this year has been very strong, with a year-to-date increase of over 21%. This surge underscores gold’s enduring appeal as both a safe-haven asset and a potential source of significant returns. And while it’s impossible to accurately predict what will happen over the next few months, there are signs that gold’s price rise could continue for some time.
So, while there are no guarantees, investors who want to capitalize on the potential for quick returns on a gold investment may want to buy in now. Waiting could mean paying more per ounce for the precious metal and earning less profit in return.
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Save up to 40% on Hexclad cookware sets this Labor Day
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Hexclad
Hexclad is known for its innovative hybrid cookware, combining stainless steel and cast iron to create durable, high-performance pieces. Right now, you can save up to $875 on bestselling cookware and knife sets from the premium kitchen brand, just in time for Labor Day. Endorsed by celebrity chef Gordon Ramsay, all Hexclad products come with a lifetime warranty which should certainly provide some added confidence in your investment.
Best Labor Day deals on Hexclad cookware
Shop Hexclad and save on cookware sets, knife sets and more ahead of Labor Day.
Hexclad 12-piece hybrid cookware set: $700 ($1,175 value)
Hexclad
Give your home full cookware makeover with this incredible 12-piece set. The set features many of Hexclad’s bestselling hybrid cookware pieces made with nonstick, stainless steel and cast iron. It’s oven-, dishwasher-, and metal-utensil-safe.
The set includes a 12-inch hybrid pan with a lid, a 10-inch hybrid pan with a lid, an 8-inch hybrid pan with a lid, a 2-quart pot with lid, a 3-quart pot with lid and an 8-quart pot with lid.
Your order will also include a 4.5-quart hybrid deep sauté pan ($189 value) as a free gift.
You can get the Hexclad 12-piece hybrid cookware set (with free gift) from the company for $700, a $1,175 value.
Hexclad 6-piece hybrid cookware set: $399 ($650 value)
Hexclad
Want to start off with a smaller set? This six-piece Hexclad cookware set is an excellent introduction to the brand. The set includes three Hexclad hybrid pans with lids in 12-inch, 10-inch and 8-inch pan sizes.
This cookware set is oven-, dishwasher- and metal-utensil-safe.
You will also receive a 10-inch hybrid wok ($119 value) with your order.
Score this set at Hexclad while you can. A $650 value, it’s now just $399 for Labor Day.
Hexclad Essential 6-piece Japanese Damascus steel knife set: $350 (21% off)
Hexclad
Home chefs and grilling enthusiasts will love this steel knife. Each knife is constructed from 67 layers of Japanese Damascus steel, providing a harder blade and sharper edge for easy slicing. The set includes an 8-inch chef’s knife, an 8-inch serrated bread knife, a 7-inch Santoku knife, a 5-inch utility knife, a 3.5-inch paring knife and a 9-inch honing steel to help keep the knives sharp.
Score the Hexclad Essential 6-piece Japanese Damascus steel knife set now for $350, reduced from $444 (21% off).
Labor Day 2024 is almost here, which means Labor Day sales are live now. The shopping experts at CBS Essentials have scoured the best Labor Day sales at all your favorite retailers to bring you the best mattress deals, the best luggage deals, the best deals on major appliances, the best patio furniture clearance deals and even the best tire deals to shop this Labor Day.