Odaily News Gold futures fell after U.S. President-elect Donald Trump named Scott Bessant as Treasury Secretary. Ole Hansen of Saxo Bank said in a report that Trump's selection of hedge fund billionaire Bessant as his Treasury secretary curbed risk aversion, causing gold, the dollar and U.S. Treasury yields to fall slightly and stocks to rise. Hansen said Bessant is known as a fiscal hawk who believes that tariffs should be used more as a negotiating tool and implemented gradually. Hansen added that gold prices fell sharply after the news, reflecting reduced concerns about the U.S. debt situation and a squeeze on recently established long positions. (Jinshi)