MW: Gold hits 5-week high on weak dollar, rising oil
By Moming Zhou
NEW YORK (MarketWatch) -- Gold futures rose above $950 an ounce Monday, climbing to their highest level in more than five weeks as a weaker dollar and higher oil prices boosted the metal's appeal as a hedge against a weak currency and rising inflation. August gold gained $13.70, or 1.5%, to $951.20 an ounce in early North American trading. It rallied to $954.90 earlier, the highest intraday level since June 11.
