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Should seniors invest in gold as the economy improves?

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Seniors can still benefit from investing in gold now even with the economy improving again.

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The unemployment rate is falling as less Americans are looking for work. That was the big economic news released Friday by the Bureau of Labor Statistics. Employers added 254,000 jobs in September, surging past economists predictions of 140,000 new jobs. The unemployment rate then dropped to 4.1%, down from the prior month’s 4.2%. 

This was yet another welcome economic development that followed a Federal Reserve rate cut in September and a report showing inflation at its lowest point in three years. While there is still much work to be done to course-correct the economy, many Americans may be encouraged by these latest developments.

As the economy improves, however, some may be reconsidering both their traditional and alternative investments. This consideration is particularly important for seniors, many of whom are heavily dependent on retirement funds and Social Security. For this demographic, in particular, each investment type needs to be worthwhile. And although gold, for example, has been a smart investment for many in recent years, some older adults may be wondering about it’s worth now. Should seniors invest in gold as the economy improves? Or should they look to skip it altogether? That’s what we’ll break down below.

See how the right gold investment could boost your portfolio here now.

Should seniors invest in gold as the economy improves?

Here are three reasons why seniors should consider investing in gold now, even as the economy heads back upward:

The price is rising

The price of gold has surged this year, breaking numerous price records in the process. So for those seniors looking for an investment that has clear, upward movement, gold will be it. The price of the precious metal started the year at $2,063.73 per ounce and is now hovering close to $2,700.00 – a more than 30% rise since January. And it could easily surpass $3,000 soon, according to experts. So don’t wait for that to happen. Invest today and enjoy the benefits of a growing asset.

Get started with gold here.

It’s still a safe haven

The rising price of gold shouldn’t cause seniors to forget that the precious metal still effectively serves as a long-term, safe haven investment, too. As can be demonstrated over the last 18 months, when other assets look shaky due to inflation and other poor economic conditions, gold often maintains and even rises in value at the same time. This safe haven feature is always important to have in one’s portfolio, especially for seniors who have little wiggle room to endure the volatility of other, less reliable investments. 

Your portfolio can use the diversification

Sure, the economy is seemingly on the right track right now. But that doesn’t mean you should have a static portfolio, either. Instead, now is actually a smart time to diversify to protect yourself against future economic downturns. And, as been demonstrated in recent years with the pandemic, inflation, and more, no one can accurately predict when the economy could change again. It makes sense then to diversify with gold now to offset those unforeseen risks. Just make sure to do so with a limited amount. Most experts recommend capping gold at 10% of your overall portfolio but, for seniors, that amount may be a bit lower.

The bottom line

Gold can make sense for seniors to invest in now, even as the economy is improving on multiple fronts. With the price of the metal rising but it’s traditional benefits as a safe haven and diversifier still strong, many seniors would benefit from adding a small portion of gold to their portfolios now. And with types ranging from gold IRAs to simple gold bars that you can buy from Costco, there’s no shortage of ways to invest in the precious metal right now. 

Get started here today.



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CDC launches new way to measure trends of COVID, flu and more for 2024

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The Centers for Disease Control and Prevention has launched a new way for Americans to look up how high or low levels of viruses like COVID-19 and flu are in their local area for 2024.

This year’s new “community snapshot” is the CDC’s latest attempt to repackage its data in one place for Americans deciding when to take extra precautions recommended in its guidelines, like masking or testing, going into the fall and winter.

It centers around a sweeping new weekly metric called “acute respiratory illness.” The metric’s debut fulfills a goal laid out by agency officials months ago, aiming to measure the risk of COVID-19 alongside other germs that spread through the air on a single scale from “minimal” to “very high.”

“The biggest thing we’re trying to do here is not just to have a dashboard. It’s not just putting a bunch of information in front of people and kind of expecting them to navigate all of that,” the CDC’s Captain Matthew Ritchey told CBS News.

Ritchey, who co-leads the team that coordinates data fed into the snapshots, said the CDC gathers experts from across the agency every Thursday to walk through the week’s data coming from hospitals and emergency rooms, wastewater sampling and testing laboratories.

“All those groups come together, talking through their different data systems and their expertise to say, ‘this is what’s catching my eye.’ And then that’s what we want to tee up for the public,” he said.

Ritchey cited early signs of respiratory syncytial virus, or RSV, starting to increase this season as expected in Florida, which is called out at the top of this week’s report.

Behind the CDC’s new “respiratory illness” metric

Based on emergency room data, the “acute respiratory illness” metric, grades overall infections in each state or county from “minimal” to “very high.”

That is defined broadly to capture infections from COVID-19 and influenza, as well as a range of other diseases that spread through the air like whooping cough or pneumonia.

A previous definition the agency had relied on called “influenza-like illness” had been too narrow, Ritchey said, with requirements like fever which excluded many patients.

A separate set of standalone levels is still being calculated each week for COVID-19, influenza and RSV. 

The formula behind those levels is based on historical peaks and valleys in emergency room trends, which were analyzed from each state.

“We’ve looked over the last couple of years and understand the low points of the year, based on our lab testing, and at that point we say, that’s the baseline or ‘minimal’ category,” said Ritchey.

How to see what COVID variants are dominant

Not all of the CDC’s data made the cutoff to be included on the first layer of the agency’s new snapshot. 

For example, while the front page for the general public does mention current SARS-CoV-2 variants like XEC, details about its prevalence remain on a separate webpage deeper into the CDC’s website.

“That whole jumble of lots of acronyms or letters and things like that just don’t overly resonate with them,” he said. 

For flu, the CDC is still publishing more detailed weekly updates designed for experts, through the agency’s “FluView” reports

Those include a weekly breakdown of the “type” – influenza A or B – and “subtype” – like H3N2 or H1N1 – that is being reported to the agency from testing laboratories.

Health authorities closely watch trends in flu subtyping as well, since they can help explain changes in the severity of the virus as well as vaccine effectiveness

Future changes to come 

The snapshot remains a work in progress as the CDC gathers feedback from the public as well as local health departments.

“We have a continuum of users, from the public health practitioner to my parents, providing feedback on how they’re using it. More often, the feedback we get is, ‘hey, I use this to help inform how I work, or talk with my elderly parents,'” he said.

One big change coming later this season is the resumption of nationwide hospitalization data, after a pandemic-era requirement for hospitals to report the figures to the federal government lapsed. 

A new rule by the Centers for Medicare and Medicaid Services to start collecting the data again for COVID-19, influenza and RSV is due to take effect in November.

“As that data starts to come in again and gets to a robust enough level, the plan is that it would be incorporated on the site as well,” he said.

Another long term goal is to add information specific to other respiratory illness culprits beyond COVID-19, influenza and RSV.

“We want to be able to talk about maybe some of the other things that are not the big three as well, like mycoplasma and some of those other things too, that we know peak during certain parts of the season,” he said. 



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Obama campaigning for Harris, Musk will join Trump

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Obama campaigning for Harris, Musk will join Trump – CBS News


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Former President Barack Obama will spend October campaigning for Vice President Kamala Harris as entrepreneur Elon Musk joins former President Donald Trump in his campaign. NOTUS political reporter Evan McMorris-Santoro and Axios national politics reporter Sophia Cai join CBS News with more.

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Why many Helene flooding victims don’t have flood insurance

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FEMA says only 4% of U.S. homeowners have flood insurance and many of those affected by Helene flooding are just discovering they don’t have coverage for their homes. USA Today money reporter Bailey Schulz joins CBS News with more.

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