Gold Surged $5 On Dollar's Weakness

Gold bounced back on Monday, on the back of a slide in the dollar and firm crude oil prices, but the precious metal lacked the momentum to challenge the $800 yen level, while Tokyo futures gave up some gains as the yen inched higher.

Spot gold rose to $789.00/789.60 an ounce as of 0643 GMT, from $784.80/$785.50 in late New York, but was down from an intraday high of about $793.90.

Suzuki said the gold market was still going through a correction after it rallied nearly $200 since mid-August.