According to CoinMeta, Ole S, the head of commodity strategy at Shengbao Bank, stated that driven by the weakening US dollar and declining yields on US Treasury bonds, precious metals emerged as the biggest winners in the mid-term elections in the United States. Both gold and silver prices have risen; gold is currently trading at $4,043 per ounce, with a gain of nearly 3%. Hansen believes that short covering could further enhance the upward momentum for gold prices. If the market believes that Democrats will limit Trump's ability to further expand fiscal spending, then the decline in US Treasury bond yields will increase the attractiveness of interest-free assets such as gold. Silver prices have risen by about 4%, to $52 per ounce.