Gold futures settle at a more than 3-week low

Gold futures fell on Monday to settle at their lowest price in more than three weeks. A continued surge in U.S. Treasury yields to levels last seen in 2007, along with the strength of the U.S. dollar saw gold reverse the price rise seen at the end of last week, said Michael Hewson, chief market analyst at CMC Markets UK. Still, gold prices have found support around the May lows at $1,800, he said. August gold fell $43.70, or 2.3%, to settle at $1,831.80 an ounce, the lowest most-active contract finish since May 18, FactSet data show.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.