Gold drops on strong stocks, dollar

Gold futures on the COMEX division of the New York Mercantile Exchange on Monday pulled back from last Friday's strong rally, as the U.S. dollar rebounded and the Dow and S&P set new intraday record highs.

The most active gold contract for December delivery fell 10 U.S. dollars, or 0.85 percent, to settle at 1,159.8 dollars per ounce.