Gold Settles Lower; Silver Drops More Than 2%

Gold futures settled lower on Monday as a rally in the U.S. stock market lured investors away from the precious metal. Meanwhile, silver futures lost more than 2% as a slowdown in China's economic growth dulled demand for the industrial metal. June gold shed $9.40, or 0.8%, to settle at $1,193.70 an ounce. May silver settled with a loss of 34 cents, or 2.1% at $15.889 an ounce, its lowest settlement since March 18.