Gold targets $800/oz as $100 oil beckons

Oil and gold prices homed in on major psychological levels at $100 a barrel and $800 an ounce respectively on Monday after a sinking dollar helped propel crude to a record above $93 and bullion to 28-year highs.

Oil focused on supply fundamentals as Mexico briefly halted a fifth of its production, while simmering political tension in the Middle East provided residual support.