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Musk Co-Leads New Trump Department Amid Gold Selloff and Tesla Gains

17 hours ago

Musk Co-Leads New Trump Department Amid Gold Selloff and Tesla Gains

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10 Highlights

Elon Musk appointed to co-lead Trump's new government department.
Department aims to overhaul agencies and slash government spending.
- Musk's role could impact Tesla and SpaceX ventures.
- Tesla shares rise 2.5% in premarket trading post-announcement.
- Gold prices drop as investors seek riskier assets over havens.
- Gold down 8% in November amid strong economic outlook.
- Trump's presidency boosts US dollar, pressuring gold prices.
- Musk's involvement seen as positive for autonomous, AI projects.
- Vivek Ramaswamy co-leads with Musk on efficiency initiatives.
- Investors bet on stocks, crypto as Trump promises economic growth.

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