Daily Gold Update

Source: MarketWatch

San Francisco— Silver leads the gains among other metals; analyst sees prices bottoming out.

Gold futures closed higher Monday, rebounding from last week's drop of more than 8% as weakness in the U.S. dollar helped increase demand for the precious metal, lifting prices by nearly $14 per ounce for the trading session.

Gold for December delivery gained $13.60, or 1.7%, to close at $805.70 an ounce on the New York Mercantile Exchange. It touched a high of $807.50 earlier.

Silver futures rose 2.9% Monday after tumbling 10% in the previous session.

Gold "has risen back to challenge $800 as a pause in the dollar advance has prompted short covering," said James Moore, an analyst at TheBullionDesk.com, in a note.

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