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Why you should invest in gold before November
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Gold investing has long been a smart way to protect your money. And, in recent years, it’s become an essential one.
With inflation high and interest rates elevated, many turned to gold to protect their portfolio as other assets appeared uneven. Investing in the precious metal subsequently hit an 11-year high in 2023. However, the interest has remained strong throughout 2024, as evidenced by numerous price records shattered. Gold was priced at $2,063.73 per ounce on January 1 but has since soared past $2,600 – with many expecting that price to soon hit $3,000.
Against this backdrop, both beginner investors and veterans who have yet to add gold to their portfolio may want to get started now. But they should do so before this November, in particular. Below, we’ll explain why.
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Why you should invest in gold before November
With the start of the new month just weeks away, it makes sense to get invested in gold now. Here’s why:
Geopolitical tensions could increase buyer demand
Gold demand typically increases when geopolitical tensions are high, as they have been for much of the last two years. If you combine those concerns with a looming U.S. presidential election and the fallout from that, it adds up to what is likely to be increased buyer interest. This has already been demonstrated, in part, with gold bars selling out at retailers like Costco. So you’ll want to get invested before more buyers enter a competitive market. Just be sure to do so in a moderate amount as most experts recommend limiting gold to a maximum of 10% of your overall portfolio.
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The price could rise again
Amid the aforementioned concerns and economic factors like inflation and interest rates, it’s easy to see the price of gold rising yet again. And with it already approaching $2,700, waiting too long to act could cause the precious metal to become out of reach for many. Buying in now, then, before November makes sense. While gold could come down in price slightly post-purchase it’s important to remember that, overall, the price of gold only rises. So act now before that rise makes an investment prohibitive.
It’s never too early to protect your portfolio
Gold is a great portfolio diversifier, offering protection and steadiness when other assets are volatile. And it’s never too early to add that protection into your asset mix. By maintaining and often rising in value when other assets underperform, gold can offer a buffer that stocks, bonds and even real estate simply cannot. And while recent economic developments surrounding rate cuts, unemployment and inflation have all been encouraging, it will still take some time for this news to reverberate through the wider economic climate. You’ll want to have gold as a protector when it does.
The bottom line
Now is a great time to invest in gold if you haven’t already taken advantage of the precious metal. By investing before this November you’ll position your money for protection against the volatility caused by geopolitical and domestic tensions. But you’ll also get in before the price has a chance to rise yet again. And remember that, no matter the timing, it’s never premature to protect your portfolio. Gold can help provide that security both now and in the months and years to come.
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Moscow — Former Royal Ballet star Sergei Polunin, famous for his tattoos of Russian President Vladimir Putin, on Wednesday announced that he plans to leave Russia. The Ukrainian-Russian dancer was one of the most prominent stars who backed Russia’s unilateral 2014 annexation of Crimea and its military assault on Ukraine. He was rewarded with prestigious state posts.
In a rambling, misspelled message on his Instagram account, Polunin wrote: “My time in Russia ran out a long time ago, it seems at this moment that I have fulfilled my mission here.”
The post first appeared Sunday on his little-read Telegram account.
Ian Gavan/Getty
Polunin, 35, did not give a specific reason for leaving but said that “a time comes when the soul feels it is not where it should be.”
He said he was leaving with his family — his wife Yelena and three children — but “where we will go is not clear so far.”
In the summer, the dancer complained of a lack of security and said he was being followed.
Polunin, who was born in Ukraine, backed Putin’s 2014 annexation of Crimea — a prelude to the ongoing, full-scale invasion of Ukraine that Putin launched in February 2022.
The dancer was granted Russian citizenship in 2019. He was appointed acting head of a dance academy in occupied Crimea’s biggest city, Sevastopol, and director of the city’s opera and ballet theatre, for which a large new building is under construction.
Just last year he was decorated by Putin for his role in popularizing dance. But in August he was replaced as head of the dance academy by former Bolshoi prima Maria Alexandrova, and a week ago, Russia’s arts minister Olga Lyubimova announced his theater director job would go to singer Ildar Abdrazakov.
This came after on December 9 Polunin published a social media post saying he was “very sorry for people” living in the heavily bombarded village near Ukraine’s city of Kherson, where his family originates from, and that “the worst deal would be better than war.”
Ian Gavan/Getty
Aged 13, Polunin won a scholarship to train at the Royal Ballet School in London and became its youngest ever principal dancer.
With his tattoos — including a large depiction of Putin’s face emblazoned prominently on his chest — and his rebellious attitude, he became known as the “bad boy of ballet” and caused a sensation by resigning from the Royal Ballet at the height of his fame in 2012.
Later he made a 2015 hit video to Irish musician Hozier’s song “Take Me to Church” and was the star of a 2016 documentary called “Dancer.”
He moved to perform at Moscow’s Stanislavsky Musical Theatre’s ballet before launching a solo career, starring in dance performances in roles including the mystic Grigory Rasputin.
In 2019 he posed for AFP with a large tattoo of Putin on his chest which he later supplemented with two Putin faces on either shoulder. He also has a large Ukrainian trident on his right hand.
This year he took part in Putin’s campaign for reelection as a celebrity backer.
