CBS News
Gold prices just shattered another record: 3 big reasons to buy in now
Getty Images
The gold market has been on a wild ride since the start of 2024, with gold prices breaking numerous records and capturing the attention of investors. The trend started in March, when gold prices surged to a new high of $2,160 per ounce — up 8% from the previous price record set in December 2023. And, the bull run continued into the following month, with gold hitting another milestone of $2,259.29 per ounce on April 1. Late May saw another peak as gold prices soared to $2,439.98 per ounce.
After a brief period of stabilization, gold is once again making headlines due to its upward price trajectory. This week, the price of gold has been teetering on a new all-time high — and on July 17, the price per ounce climbed to $2,472.46, shattering yet another record and helping to solidify gold’s status as a formidable asset in the current economic landscape.
And, while it may seem counterintuitive to buy gold at a record-high price, you may want to consider buying in right now. After all, gold investing still holds significant potential in today’s landscape. Here’s why.
Start comparing your gold investing options online now.
Gold prices just shattered another record: 3 big reasons to buy in now
There are a few reasons why you might want to consider buying into gold now, including:
To capitalize on the potential for further price appreciation
While gold prices have already reached several record highs this year, some experts believe there is still room for growth. And, several factors support this outlook. For starters, many central banks have been increasing their gold reserves. And, unlike fiat currencies, which can be printed at will, the global gold supply is finite. So, as demand for the precious metal continues to grow, the limited supply could drive prices even higher.
The use of gold in various industries, including electronics and healthcare, is also expanding. As new applications for gold are discovered and implemented, industrial demand could further boost prices. So while the price is high now, there’s still potential for future growth — and by buying in now, you may be able to capitalize on any price growth that occurs over time.
Find out what your gold investing options are and get started now.
To hedge against economic uncertainty
While inflationary pressures have been cooling recently, the global economy continues to face numerous challenges, including ongoing geopolitical tensions. That makes gold a wise choice for investors, as the precious metal has long been regarded as a reliable hedge against economic uncertainty. And, its role in this capacity is multifaceted.
For starters, gold tends to maintain its purchasing power over long periods due to the inherent value it holds. While traditional currencies can lose value due to inflation or other economic issues, gold can act as a hedge against that type of currency risk. That’s because, as the value of a currency declines, the price of gold typically rises, preserving wealth for investors holding gold.
And, during periods of severe economic stress or geopolitical turmoil, gold often experiences increased demand by investors who are seeking safe haven assets. This tendency can lead to price appreciation during times when other assets may be declining in value. Plus, gold is highly liquid and can be easily converted to cash. This liquidity provides investors with financial flexibility during uncertain economic times.
For the diversification benefits it offers
Diversification is a cornerstone of sound investment strategy, and gold offers unique diversification benefits that can significantly enhance a portfolio’s resilience and performance. That’s due, in large part, to how gold typically has a low or negative correlation with stocks and bonds.
When traditional assets decline in value, gold often moves in the opposite direction or remains stable. So, by including gold in a diversified portfolio, you can potentially reduce your overall portfolio volatility, protecting yourself from future losses if or when market volatility increases.
The bottom line
While the current record-high gold prices may give some investors pause, it’s important to consider the broader context and potential benefits of including gold in an investment portfolio. The ongoing economic uncertainties, need for diversification, potential for further price appreciation and geopolitical risks all contribute to gold’s appeal as an investment option right now.
However, as with any investment decision, it’s crucial to carefully consider your individual financial goals, risk tolerance and overall investment strategy before buying in. But for investors seeking stability, diversification, and potential growth in an increasingly uncertain world, gold remains a compelling option worth serious consideration, especially given its recent upward trajectory in price — and the likelihood for future growth.
Watch CBS News
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.
CBS News
How to watch the Minnesota Vikings vs. Chicago Bears NFL game today: Livestream options, more
Getty Images
The Minnesota Vikings will take on the Chicago Bears today. The Vikings are currently 8-2, an impressive run so far this season, and will be looking to add a fourth win to their current streak after last Sunday’s 23-13 win against the Tennessee Titans. The Bears, on the other hand, are entering this game on the heels of a four-game losing streak after a tough 20-19 loss against the Green Bay Packers last Sunday.
Here’s how and when you can watch the Vikings vs. Bears game today, whether or not you have cable.
How and when to watch the Minnesota Vikings vs. Chicago Bears
The Vikings vs. Bears game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Minnesota Vikings vs. Chicago Bears game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Fubo offers you an easy, user-friendly way to watch NFL games on CBS, Fox, NBC, ABC, ESPN, and NFL Network, plus NCAA football channels. The Pro tier includes 200+ channels and unlimited DVR, while the Elite with Sports Plus tier adds NFL RedZone and 4K resolution. New subscribers get a seven-day free trial and all plans allow streaming on up to 10 screens simultaneously.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.
CBS News
How to watch the Detroit Lions vs. Indianapolis Colts NFL game today: Livestream options, more
Nic Antaya/Getty Images
The Detroit Lions will face off against the Indianapolis Colts today. The Lions enter this game as top contenders with a near-perfect record of 9-1 so far this season. The Colts, who are 5-6 this season, could have a tough game on their hands against the Lions but will be looking to rack up another win after prevailing over the New York Jets in a tight game last Sunday.
Here’s how and when you can watch the Colts vs. Lions game today, whether or not you have cable.
Here’s how and when to watch the Detroit Lions vs. Indianapolis Colts
The Lions vs. Colts game will be played on Sunday, November 24, 2024 at 1:00 p.m. ET (11:00 a.m. PT). The game will air on Fox and stream on Fubo and the platforms featured below.
How and when to watch the Detroit Lions vs. Indianapolis Colts game without cable
You can watch this week’s NFL game on Fox via several streaming services. All you need is an internet connection and one of the top options outlined below.
Experience NFL action like never before with Fubo’s comprehensive sports streaming platform. From Sunday showdowns to primetime matchups, catch every NFL game across major networks including CBS, Fox, NBC, ABC, ESPN and NFL Network. Choose the Pro package to unlock 200+ channels and limitless DVR storage, or elevate your game-day experience with the Elite with Sports Plus package, featuring NFL RedZone’s commercial-free scoring highlights and stunning 4K quality.
Test drive the service with a no-commitment seven-day free trial, and share the excitement with family and friends — Fubo supports simultaneous streaming on up to 10 devices, so everyone can watch their favorite teams.
You can watch today’s game with a subscription to Sling’s Orange + Blue tier, which includes ESPN, ABC, NBC, and Fox. The plan offers 46 channels with local NFL games, nationally broadcast games, and 50 hours of DVR storage. For complete NFL coverage, add Paramount+ to get CBS games, or upgrade with the Sports Extra add-on for additional sports channels like Golf Channel, NBA TV and NFL RedZone.
Watching NFL games, including Fox broadcasts, is simple with Hulu + Live TV, which includes 90 channels, unlimited DVR storage, and access to NFL preseason games, live regular season games and studio shows. The service includes ESPN+ and Disney+ in the subscription.
Want to watch today’s game live on your smartphone? If so, NFL+ streaming service is the solution you’re looking for. It lets you watch NFL Network and out-of-market games on mobile devices, with an upgrade option to NFL+ Premium that includes NFL RedZone for watching up to eight games simultaneously. Note that NFL+ only works on phones and tablets, not TVs.