Gold is giving back part of this week’s powerful rebound, but Saxo Bank commodity strategist Ole Hansen does not yet see the move as the beginning of another major decline. Spot gold is trading around $4,060-$4,080 per ounce today after reaching roughly $4,146 on Thursday. Despite the pullback, gold remains up about 5% for the week, which puts it on track for its strongest weekly performance in more than two months.