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DACA recipient wins New Mexico legislative seat and other historic 2024 election wins
As the 2024 election results continued rolling in Wednesday morning, the outcomes of federal and state races took shape across the United States. A handful of them marked historic victories, with Congress’ first transgender representative and Maryland’s first Black senator among them.
In New Mexico, voters elected Cindy Nava to join the state legislature, paving the way for a former undocumented person and Deferred Action for Childhood Arrivals, or DACA, recipient to hold a position in public office.
Nava, a Democrat, won New Mexico’s state Senate contest in District 9, which includes a region just north of Albuquerque. She bested Republican candidate Audrey Trujillo with 55% of the vote, according to results shared online by the New Mexico Secretary of State’s office.
Originally from Mexico, Nava came to the U.S. as a young child with her family. She was a Dreamer — a recipient of the DACA program — which was designed to protect undocumented people who arrived in the country as children from being deported. The Obama-era policy took effect in 2012.
Years later, after graduating from college in New Mexico, Nava was appointed to serve as a senior policy adviser at the U.S. Department of Housing and Urban Development under the Biden administration. She was the first former DACA recipient appointed by the White House, said Nava in a biography that appears on her campaign website.
“I am the first in my family to graduate college, and the first Dreamer (DACA recipient) in the country to be appointed by the White House,” the bio reads. “Now, I am among a small handful of Dreamers in the country who are running for public office.”
Nava’s victory in New Mexico’s state legislature was unprecedented because a former DACA recipient had never successfully become an elected official before this latest election. She could potentially share that milestone with Luis Mata, a Democratic candidate for Tennessee’s House of Representatives in 2024 who was also a Dreamer.
Historic election triumphs touched multiple states.
Delaware
Delaware made huge strides in the 2024 congressional elections. Sarah McBride, a Democrat who has served in the Delaware State Senate and worked in the Obama administration, won her U.S. House race and became the first openly transgender person elected to Congress.
U.S. Rep. Lisa Blunt Rochester, also a Democrat, also became the first woman and the first Black person elected to serve in the U.S. Senate from Delaware. She reached the same milestone for Delaware when she was elected to represent the state in the House in 2017.
The upcoming congressional term will mark the first time two Black women serve simultaneously in the Senate, owing to Rochester’s victory in Delaware and Angela Alsobrooks’ victory in Maryland.
Maryland
Alsobrooks, a Democrat, will become Maryland’s first Black senator after winning her congressional race. She currently serves as the county executive for Prince George’s County, near Washington, D.C.
New Jersey
Democrat Andy Kim won his congressional race in New Jersey, becoming the first Korean American person elected to the U.S. Senate.
North Dakota
Julie Fedorchak, a Republican who sits on North Dakota’s public service commission, will become the first woman from the state in Congress. She was elected to represent North Dakota in the U.S. House of Representatives.
Ohio
Republican Bernie Moreno, of Ohio, became the first Latino elected to the U.S. Senate in that state.
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Gold’s price is plunging. Is this the right time to buy in?
Gold has had an impressive year so far, outperforming many other assets over the last several months. Throughout 2024, the price of gold has consistently broken records and reached new all-time highs, fueled in large part by economic uncertainty, global instability and investor interest, underscoring its allure as a reliable investment in turbulent times. On the eve of the U.S. presidential election, the price per ounce was sitting at $2,748, just shy of its recent peak — and up by over 33% year-to-date.
However, shortly after the election, gold’s price began to fall, dipping by about $80 to around $2,669 per ounce. This post-election plunge, which marked a three-week low, caught many investors by surprise and sparked speculation about what lies ahead for gold’s price. While some investors might be wary of the price drop, viewing it as a sign of instability, others see it as a potential entry point.
This price drop raises an intriguing question: Is now the right time to buy into gold? Given its strong upward trajectory this year, today’s lower price may offer a strategic entry point, but there are many factors to consider. Below, we’ll break down what to consider.
Add gold to your investment portfolio today.
Should you buy gold as the price plunges?
The short answer is yes — now could be an excellent time to add gold to your portfolio. After all, gold has historically shown resilience and an ability to grow in value over time, especially during periods of economic uncertainty. Analysts predict that demand will keep pushing prices higher, with some expecting it to reach $3,000 per ounce in the coming months. This makes today’s prices an attractive buying opportunity for both beginners and those looking to expand their gold holdings.
Beyond potential price growth, gold serves as a unique asset in a well-balanced portfolio. Gold is known for its diversification benefits, offering protection against downturns in other markets. For example, during economic crises or inflationary periods, gold often outperforms stocks and bonds. This characteristic makes it valuable in today’s environment, where lingering inflation fears, potential interest rate adjustments and global tensions have caused volatility across multiple asset classes.
Investing in gold now can serve as an inflation hedge for the future as well. While the inflation rate is currently sitting near the Fed’s 2% target rate, there’s always a chance that inflation could tick back up unexpectedly. If that happens, the cost of goods and services increases and the purchasing power of cash diminishes, but gold tends to retain its value. This hedging ability has made gold particularly appealing in recent years. So, if you’re concerned about protecting your assets from future issues with inflation, adding gold could be a strategic move.
Central banks are also bolstering their gold reserves, which could help drive demand and further stabilize prices. Central banks have been consistent buyers of gold, both as a hedge and as a way to diversify their own reserves. Additionally, the industrial sector’s need for gold — particularly in electronics and medical devices — has remained robust, adding further demand. All these factors point to a positive long-term outlook for gold, making now a favorable time to invest, especially at a lower price.
Find out what your gold investing options are here.
What gold assets make sense right now?
If you’ve decided to invest in gold, the next question to answer is: What type of gold asset makes the most sense? Here’s what you may want to consider investing in now:
- Physical gold: Gold bullion bars and coins offer a direct way to own gold without needing to rely on the market fluctuations of other investment vehicles. Bullion provides a sense of security, as it’s an actual item you can hold. However, storing and insuring physical gold can add to your costs.
- Gold ETFs: For more flexibility and convenience, gold exchange-traded funds (ETFs) are a popular option. Gold ETFs allow investors to buy shares that represent ownership in a quantity of gold without the need to manage or store physical gold. They also provide liquidity and generally come with lower costs than physical gold.
- Gold mining stocks: Investing in gold mining companies offers exposure to gold’s price performance without directly buying the metal. When the price of gold rises, mining companies typically see increased profits, which can lead to higher stock prices. However, gold mining stocks can also be volatile, as they are affected by factors such as production costs.
The bottom line
Ultimately, the decision to buy gold should align with your financial goals, risk tolerance and investment strategy, but the recent dip in gold’s price presents a unique opportunity for investors. Given its impressive performance this year and its strong long-term outlook, now could be a strategic time to buy in at a lower price point. Whether you choose physical gold, gold ETFs or gold mining stocks, each type of gold asset offers unique advantages that can enhance your portfolio. And, with its ability to hedge against inflation, provide diversification and serve as a safe haven in times of uncertainty, gold remains a wise choice for many investors.
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