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Israel’s deadly war with Iran-backed Hezbollah hit this Lebanese village without warning
Khodor, southern Lebanon — War came without warning to the village of Khodor in Lebanon’s Bekaa Valley. Israel’s fight with the Iran-backed group Hezbollah, long designated a terrorist organization by Israel and the U.S., has been focused for weeks in southern Beirut and further south, near the Lebanon-Israel border, where the Israel Defense Forces have ordered tens of thousands of people to evacuate.
One of the deadliest Israeli strikes to date came Thursday evening, when missiles slammed into buildings in central Beirut. Lebanon’s caretaker Prime Minister Najib Mikati said 22 civilians were killed and wounded another 139. The Reuters news agency quoted Lebanese security officials as saying the Israeli strike had targeted senior Hezbollah official Wafiq Safa, who survived.
About 20 miles to the east of Beirut, there have been no IDF evacuation orders in Khodor. But there have been airstrikes. Mourners gathered and wept for five people killed in one of them Wednesday. A much-loved schoolteacher and his grandson were among those killed. So was Ahmed Awdeh’s father — crushed to death under rubble.
Awdeh’s memories of the man he adored have been reduced to a treasured photo album.
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“My dad was a farmer,” the traumatized boy (how old?) told CBS News. “He was kind and loved by all.”
For most of the past year, since Hezbollah’s Hamas allies in the Gaza Strip sparked the ongoing war there with their Oct. 7, 2023 terrorist attack, the people of Khodor had rarely found themselves in Israel’s firing line.
Since the escalation of Israel’s parallel war with Hezbollah about two weeks ago, however, the tiny village has been hit repeatedly by Israeli airstrikes. Israel ramped up its fight against Hezbollah, a powerful, well-armed Iranian proxy group deeply embedded in Lebanon’s politics, in response to it launching more than 10,000 rockets at Israel in support of Hamas over the last year.
Israeli Prime Minister Benjamin Netanyahu has said the objective is to drive Hezbollah fighters and weapons back far enough from Israel’s northern border to stop the hail of rocket fire, to enable tens of thousands of Israelis to return to their deserted homes in the region. The Israeli threatened this week to inflict upon Lebanon “a long war that will lead to destruction and suffering like we see in Gaza” if the Lebanese people do not reject Hezbollah.
The IDF said cross-border ground operations launched at the end of September in southern Lebanon would be “limited, localized, and targeted ground raids based on precise intelligence.”
Lebanese officials say Israel has killed 2,141 people with its operations in the country since they began just over a year ago — about half of them since the assault escalated dramatically at the end of September, and at least 22 in strikes on Wednesday alone. More than 10,000 others have been wounded, according to the country’s health ministry.
On Thursday, Israel faced condemnation from the United Nations and various national governments after the decades-old U.N. peacekeeping mission in southern Lebanon, UNIFIL, said Israeli forces had fired, deliberately, on several of its installations, wounding two troops.
The IDF said in a statement hours later that Hezbollah “operates from within and near civilian areas in southern Lebanon, including areas near UNIFIL posts” and that the IDF had “instructed the UN forces in the area [near the city of Naqoura] to remain in protected spaces, following which the forces opened fire in the area.”
On Friday, UNIFIL said its headquarters in Naqoura “was affected by explosions for the second time in the last 48 hours,” leaving two more peacekeepers wounded after two blasts “close to an observation tower.”
Fighting across the south, on the ground and Israeli airstrikes, has intensified for weeks, with multiple evacuation orders driving civilians from their homes. But further north, in Khodor, another home was flattened in Khodor a few weeks ago without warning. A man was found beneath the rubble, clutching his two daughters. All three were killed.
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Residents said the area had come under fire regularly in recent weeks, and they go to bed every night in fear. There was another strike nearby as CBS News visited the village.
As the Lebanese people’s suffering deepens, their resolve has hardened.
“Should we live under the trees?” asked Tarek, whose brother was killed in one of the strikes this week. “It’s more honorable to die in our homes.”
Israel says it’s targeting Hezbollah strongholds across southern Lebanon, in the southern suburbs of Beirut and in the Bekaa valley, but the people CBS News met in Khodor said they have nothing to do with the fight.
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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.