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What should gold investors expect this November?
Whether you’re heavily invested in precious metals or just casually observing the market, it’s been fascinating to watch the movement of gold in recent years. Last year, investing in the yellow metal hit an an 11-year high, largely thanks to its historic ability to hedge against inflation and diversify portfolios. And, in 2024, it’s been equally remarkable to watch as the price of the metal has surpassed multiple records, starting at $2,063.73 per ounce in January to almost $2,800 this November.
The start of a new month, and all of the economic factors that come with it, are bound to have effects on the gold investor market, too. Only by understanding this potential, however, as well as the conventional ways to approach these changes, can investors position themselves for success both. But what should gold investors expect this November? That’s what we’ll attempt to forecast below.
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What should gold investors expect this November?
While it’s impossible to predict with certainty what could happen to any asset, it’s arguably more difficult to do so with an alternative one like gold. That being said, here’s what some investors could potentially expect to happen this November:
The price could break a new record
This is less of a prediction and more of a guarantee if the price performance of the metal so far this year is any indication. Gold has surged so far in 2024, rising by approximately 35% since January. And with factors like inflation, interest rates, geopolitical concerns and tensions over a U.S. presidential election all at the forefront right now – all of which drive the price of gold – it wouldn’t be surprising to see the price of break one or more records in November. This is a large reason why prospective investors should take action now, before the price becomes further out of reach.
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Gold could hit the $3,000 mark
In May, some experts predicted that gold would “soon” hit the $3,000 mark, but when exactly that would be was unclear. But as the price surged, some others noted that it could surpass the $3,000 mark as soon as this year. And, now, with barely 10 weeks left in the year, it’s very possible that gold could hit that price point in November.
With items like the unemployment rate just released (showing a subpar addition of jobs in October), a Fed meeting on November 6 and 7, and another inflation report due November 13, there are plenty of factors for gold to reply to this month. Don’t be shocked if that reaction involves the price surpassing the $3,000 threshold.
New investors could boost competition
Gold is ubiquitous and relatively simple to buy, sell and buy more of. But a rising price and economic volatility could boost competition amid those looking to turn a quick profit or add a portfolio diversifier and protector into their mix. So while gold won’t exactly sell out, new competition could cause the finite supply to become harder (and more expensive) to secure. You don’t have to look any further than Costco, which entered the gold market last year and has since sold out of its gold products multiple times. Don’t be surprised, then, to see this trend increase this November.
The bottom line
Speculating about the future performance of any asset is exactly that: speculation. So investors and those considering gold but have yet to make a move should consider the above possibilities with caution. But if the previous 10 months of performance in 2024 are reliable, the price of gold could rise past a new record in November and possibly even surpass $3,000, thus boosting competition. So if you’re seriously thinking about gold, start doing your research now to better position yourself for success both in the coming weeks and over the long term.
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Election 2024 live updates amid neck-and-neck polls as Harris and Trump make push in battleground states
Supreme Court denies GOP request to block counting of certain provisional ballots in battleground Pennsylvania
The U.S. Supreme Court on Friday declined to freeze a decision from Pennsylvania’s highest court that required election officials to count provisional ballots cast by people whose mail ballots are invalid because they lacked mandatory secrecy envelopes.
The order from the justices means that election officials in the key battleground state must tally provisional ballots submitted on Election Day by voters who returned defective mail ballots, either because they didn’t include secrecy envelopes or failed to sign or date the outer envelope.
Trump holds final Wisconsin rally of campaign
Donald Trump held his final Wisconsin rally of the 2024 campaign Friday night, returning to Fiserv Forum, in Milwaukee, the site of the Republican convention, to deliver his closing message to the Badger State. In 2016, he narrowly won Wisconsin but he lost the state’s 10 electoral votes to Joe Biden in 2020.
The rally was plagued by microphone problems. People in the upper sections in the back of the arena couldn’t hear Trump, and he expressed frustration with the technical issues.
“I’m seething. I’m working my ass off with a stupid mic,” Trump said.
He then made crude gestures toward the mic stand, complaining it was too low. He held the microphone for the rest of the rally but complained about how heavy it was several times. He also threatened not to pay the contractor.
“Do you want to see me knock the hell out of people backstage?” Trump asked. “I don’t ask for much. The only thing I ask for is a good mic. And this is the second time today that this happened.”
He loosely blamed campaign manager Susie Wiles for the microphone issue.
By Olivia Rinaldi and Katrina Kaufman
Harris and Trump both rally in Milwaukee area Friday night
Both Donald Trump Trump and Kamala Harris campaigned in the Milwaukee area Friday night, going into the final weekend of the 2024 campaign. Harris didn’t deviate much from her standard stump speech in West Allis, Michigan, a Milwaukee suburb of Milwaukee. She urged people to vote who haven’t yet cast their ballots.
“No judgment, no judgment at all — but do get to it,” Harris said, before reviewing the list of her campaign promises and litany of grievances against Trump.
Cardi B, who spoke shortly before Harris, told the crowd she didn’t intend to vote this year, but “Kamala Harris changed my mind.”
She called Trump a “bully” and said, “I can’t stand a bully, but just like Kamala, I stand up to one.” Cardi B repeatedly said she was nervous about speaking at the rally. Women, she said, have to work 10 times harder than men “and still, people question us.”
CBS News
Illinois shooting survivor defies the odds after taking bullet to the brain
Leslie Reeves and Chris Smith were shot during their first date. Only Smith survived. A look at how he defied the odds to make a remarkable recovery.
The scene of the crime
On the night before Thanksgiving 2021, Smith went on a first date with a woman named Leslie Reeves. The morning after, first responders found Smith in his Farmersville, Illinois, home with a bullet lodged in his brain. Reeves was dead.
Shooting victim in a coma
EMTs rushed Smith to a hospital where he underwent brain surgery and was placed in a medically induced coma.
A bullet lodged in his brain
Fragments of the bullet remained in Smith’s brain. His doctors say that to retrieve the bullet could risk causing further damage.
Family support
Smith’s mother, Sharon Costanza, and sister, Ashli Holcomb, sat by his side during his recovery. Doctors told them chances were very low that Smith would return to his previous level of functioning.
No memory
In January 2022, Smith woke from his coma and asked where he was and what had happened. He remembered nothing from the night of the shooting. He had no memory of his date with Reeves, even though he’d been talking on the phone and messaging with her two weeks before the shooting.
A poor prognosis
Due to Smith’s injuries, his neurosurgeon, Dr. Victor Williams, told Smith he likely would not be able to walk again. Williams and his team were dedicated to doing everything they could to aid Chris’ recovery.
A life forever changed
Smith’s left leg is partially paralyzed from his hip to his knee. From his knee to his toes, he is completely paralyzed.After he left the hospital, he had to move back in with his mother.
Regaining his strength
Most days, Smith goes to the gym and works on regaining his strength so that someday he’ll be able to walk without assistance.
A survivor
Smith says he is determined to hold on tight to his new lease on life. He is back singing with his rock band. And he proposed to his fianceé, Michelle Albrecht.
New aspirations
‘Smith hopes to become a motivational speaker and has his own website.
A miracle recovery
Smith’s mother says his recovery is nothing short of a miracle.
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The Uplift: Trooper the dog
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