Gold ends above $1,300 for first time in 5 weeks

Metal logs biggest one-day gain since June 2012 on weak dollar
SAN FRANCISCO (MarketWatch) — Gold futures rose Monday as expectations for more demand from China and a decline in the dollar helped prices log their biggest one-day gain in over a year and their first close above $1,300 an ounce in nearly five weeks.

Gains in silver futures, meanwhile, outpaced gold’s rise, with prices for the white metal jumping more than 5%, but some analysts don’t expect silver to continue outperforming gold.

Gold for August delivery (CNS:GCQ3) climbed $43.10, or 3.3%, to $1,336 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest for a most-active contract since June 19 of this year, according to FactSet data. The metal also scored its largest one-day percentage and dollar gain since June 29, 2012. http://www.marketwatch.com/story/gold-prices-...2013-07-22