Online reported that gold futures prices fell and will close lower this week. Ole Hansen, head of commodities strategy at Saxo Bank, said that on the eve of the U.S. election, precious metals such as gold rebounded strongly. However, gold fell sharply after the simultaneous surge in the dollar and yields forced gold prices lower. Hansen believes that even so, there is no reason to change his bullish stance on precious metals. At worst, the correction of the past week was a healthy response to weeks of buying focused on the U.S. election. He added that gold would be supported on three fronts: as President-elect Trump increases unfunded spending, the U.S. debt situation continues to deteriorate, the central bank purchases more gold reserves, and tariffs raise inflation concerns.