Gold futures ended Monday lowest level in more than seven weeksThe strengthening of the US dollar contributed to the metal’s biggest one-day decline in more than three years following Donald Trump’s victory in last week’s US presidential election.

“Gold’s decline in the face of Trump’s victory signals a shift in sentiment, with some investors now choosing to move away from safe-haven assets,” said Fawad Razaqzada, market analyst at City Index and Forex.com. But this will likely be a “temporary hurdle” and the long-term gold forecast remains bullish in light of ongoing rate cuts by central banks.