LONDON (AFP) — Gold prices rebounded Monday as the precious metal won support amid ongoing uncertainty stemming from the collapse of US investment bank Lehman Brothers, dealers said.

On the London Bullion Market, the price of gold rose to 785.70 dollars per ounce, from 750.25 late on Friday.

In contrast, crude oil prices slumped Monday as investors feared that slower economic growth would dampen future energy demand.

Gold, which is used in jewellery, dentistry and electronics, is widely regarded as a safe store of value amid economic gloom.