Gold futures settled firmly lower Monday, driving the yellow metal to the weakest level level in about three months.

December gold concluded the session off $5.80, or 0.4%, at $1,457.10, marking the lowest finish for the most-active contract since early August, according to Dow Jones Market Data.

A recent resurgence in equity markets, notably the Dow Jones Industrial Average and the S&P 500 index have sapped demand for gold and assets perceived as havens, including Treasurys.

Indeed, rising yields, which move inversely to prices, with the 10-year Treasury note at 1.94%, can compete against gold, which doesn't offer a coupon.

Source : MarketWatch