Gold futures rebounded on Monday from their lowest level in more than five years, finding support from weakness in the U.S. dollar to settle near $1,100 an ounce, but analysts said prices haven’t likely hit bottom just yet.August gold GCQ5, -0.20% climbed $10.90, or 1%, to settle at $1,096.40 an ounce on Comex, after tapping an intraday high of $1,104.40. Prices staged a comeback from Friday’s settlement price of $1,085.50, which was the lowest level since February 2010.
September silver SIU5, -0.21% rose 12.7 cents, or 0.8%, to $14.605 an ounce.
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