Gold and Silver closed lower in futures market on Monday as the dollar strengthened and as investors favored assets perceived as risky over so-called havens.

Gold futures fell 9.80 dollars or 0.78 percent to close at USD 1,246.70 per troy ounce at the COMEX division of the New York Mercantile Exchange.

Silver futures fell 0.157 dollar or 0.94 percent to close at USD 16.53 per troy ounce at the COMEX.