Gold futures on the COMEX division of the New York Mercantile Exchange fell Monday as gains in stocks and other assets perceived as risky lured investors away from the haven metal.

The most active gold contract for August delivery fell 10 U.S. dollars, or 0.80 percent, to settle at 1,246.40 dollars per ounce.

Analysts said gold recovered back towards 1,260 dollars per ounce towards the end of last week but it was sold heavily Monday, with prices hitting the lowest level since the middle of May at one point.

The sale of 18,500 lots of gold, totalling 1.85 million ounces, and 5,000 ounces of silver in 5,500 lots on derivatives trading platform Comex in a short space of time was behind falling prices, said Afshin Nabavi, head of trading at MKS in Switzerland.

The U.S. Dollar Index edged up by less than 0.1 percent, following U.S. data on May durable goods, which showed the biggest drop in six months. Strength in the dollar tends to dull demand for dollar-priced gold from investors using another currency.

As for other precious metals, Silver for July delivery went down 7.5 cents, or 0.45 percent, to close at 16.572 dollars per ounce. Platinum for July delivery dropped 12.8 dollars, or 1.38 percent, to settle at 916.6 dollars per ounce.