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New mayor vows to fight violence in Mexico city days after his predecessor was killed and beheaded
A new mayor was sworn in Thursday in a city in southern Mexico where his predecessor was killed and beheaded less than a week after taking office.
The new mayor, Gustavo Alarcón, a doctor, had been elected as an alternate on the same ticket as deceased Mayor Alejandro Arcos in the June election.
Arcos took office on Oct. 1 in the violence-wracked city of Chilpancingo, the capital of the southern state of Guerrero. His beheaded body was found in a pickup truck Sunday; his head had been placed on the vehicle’s roof. Two rival drug gangs are fighting to control the city.
Alarcón took the oath of office with a minimal security detail of a handful of police officers Thursday. He pledged to “work for the good of all” and fight the violence that has gripped Chilpancingo for years.
Before he was killed, Arcos had told local media he needed more protection but officials said no formal request had been received. State and federal governments can offer mayors bulletproof vehicles, additional bodyguards and emergency alert systems. It was not clear if Alarcón had been granted that kind of protection.
Alejandrino Gonzalez / AP
Arcos’ murder came days after the killing of another city official, Francisco Tapia, according to Institutional Revolutionary Party president Alejandro Moreno.
“They had been in office for less than a week. Young and honest officials who sought progress for their community,” Moreno said on X.
Chilpancingo, a city of about 300,000, is dominated by two warring drug gangs, the Ardillos and the Tlacos. One staged a demonstration of hundreds of people, hijacked a government armored car, blocked a major highway and took police hostage in 2023 to win the release of arrested suspects.
Earlier this week, federal Public Safety Secretary Omar García Harfuch said four mayors from other towns in Mexico had requested protection on Monday, a day after Arcos’ remains were found. The requests came from Guerrero and another violence-plagued state, Guanajuato.
“The war on drugs will not return”
The situation in Guanajuato is so bad that ahead of the country’s June elections, at least four mayoral candidates were killed.
In June, Acacio Flores, who represents Malinaltepec, was killed just days after the killing of Salvador Villalba Flores, another mayor from Guerrero state elected in the June 2 polls. Earlier in the month, a local councilwoman was gunned down as she was leaving her home in Guerrero.
Her murder came a few days after the mayor of a town in western Mexico and her bodyguard were killed outside of a gym, just hours after Claudia Sheinbaum won the presidency.
But violence in Guerrero reached such unprecedented levels that earlier this year, Roman Catholic bishops announced they had helped arrange a truce in another part of the state between two warring drug cartels.
At the time, former president Andrés Manuel López Obrador- who refused to confront the gangs – said he approved such talks.
“Priests and pastors and members of all the churches have participated, helped in pacifying the country. I think it is very good,” said López Obrador, who left office Sept. 30.
Sheinbaum on Tuesday ruled out launching a new war against drug cartels, as she presented a national security plan aimed at reducing raging criminal violence.
Henry Romero / REUTERS
Sheinbaum, the first woman to lead the Latin American nation, said her government would prioritize tackling the root causes of crime, as well as making better use of intelligence.
“The war on drugs will not return,” the leftist president told a news conference, referring to an offensive launched in 2006 involving the military and supported by the United States.
AFP contributed to this report.
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Gold has been a standout performer in the financial markets this year, with prices climbing rapidly and setting new records. At the start of the year, gold was trading at just above $2,000 per ounce, but its value has soared past multiple milestones in recent months, and, today, gold prices hover above $2,650 per ounce. This upward trend has resulted in big rewards for early investors who saw the precious metal as a safe haven in uncertain economic times. Those who got in before prices surged are now enjoying substantial gains.
For investors who have yet to buy gold, though, the current high prices present a dilemma. Many are hesitant to jump in at a time when the price is near a record high and are instead waiting in hopes that prices will retreat, allowing them to purchase gold at a discount. This cautious approach makes sense in traditional investing logic. After all, buying low and selling high is the golden rule. But in the case of gold, waiting for lower prices may not be as wise as it seems.
While it’s tempting to wait for a price drop, the reality is that this gold investing strategy could be fraught with risks — especially right now. Below, we’ll analyze why.
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3 big risks of waiting for gold prices to fall
Waiting for gold’s price to drop could be a risky bet for the following reasons:
Gold’s price may not drop substantially
One of the primary risks in waiting to buy gold at a lower price is the possibility that the anticipated dip may never happen — or may not be as substantial as you hope. Recent trends in the gold market have shown that while gold’s price may experience short-term fluctuations, these dips have not been drastic. Part of the reason is that gold tends to be highly resilient historically, particularly in times of economic uncertainty, like what we’re facing today. Economic issues tend to push the price of gold higher rather than lower.
Even when gold prices have dipped recently, those drops have been short-lived, bouncing back quickly. In some cases, these dips have been quickly followed by the price of gold reaching new highs. This pattern makes it difficult to predict the market. So, waiting for a significant drop could mean missing out on the chance to buy gold at all. If the price continues to rise — and analysts are already predicting that it will — those waiting for a cheaper entry point could be left empty-handed.
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Your portfolio could be vulnerable without it
Gold has long been considered a hedge against stock market volatility, economic downturns and inflation. And while the stock market has performed well recently, it has experienced heightened volatility in recent months. This matters because when the market underperforms or experiences wild fluctuations, gold tends to shine as a stable store of value. This makes gold an essential component of a well-balanced investment portfolio, providing a level of protection against broader market risks.
If you delay investing in gold while waiting for lower prices, you may leave your portfolio vulnerable to future market shocks, should they occur. Gold provides a critical layer of security during such times, and without it, your portfolio may be overly exposed to short-term market shocks that gold could have helped to cushion.
You could miss out on quick returns
While gold is often viewed as a long-term investment, it also presents opportunities for short-term gains, particularly in today’s rapidly rising market. While the price is currently high, many analysts believe that gold’s price is far from reaching its peak — and some experts predict that it could soon hit $3,000 per ounce or higher. If this upward trend continues, buying now — even at the current high prices — could result in significant profits in the near future.
By waiting for a price drop, though, you may miss out on these potential gains. Market timing is notoriously difficult, and even if gold prices were to dip slightly, the price could quickly rebound, leaving those who waited with no opportunity to benefit from the current rally. Investing in gold now could allow you to take advantage of the potential for short-term profits while also securing a position in a valuable long-term asset. And if gold continues to climb, today’s prices may soon seem like a bargain.
The bottom line
Investing in gold has long been a strategy for preserving wealth and protecting portfolios against volatility, so it makes sense to add it to your portfolio, but if you’re waiting for lower prices to enter the market, that may not be the most prudent approach. The price of gold may not drop substantially and delaying your investment could leave your portfolio vulnerable to stock market fluctuations. You might also miss out on an opportunity for both short- and long-term profits. So, given the current trajectory of gold prices and the uncertain economic environment, now may be the right time to consider investing in gold rather than waiting for a dip that may never come.