Gold's woes are showing no signs of easing after a stronger dollar and weak demand from China sent the precious metal tumbling down to a five-and-a-half year low last week.
Continuing its downtrend on Monday, gold slipped 0.3 percent to around $1,095 an ounce, reversing Friday's brief gains.
It is down roughly 3.35 percent since July 20, when it slid 3 percent - its biggest one-day drop since September 2013 - after Chinese investors dumped more than $500 million of bullion in New York in four seconds, according to Reuters.
Some analysts say the worst is not over, warning that yellow metal could hit the $1,000 mark in just a few weeks.
While a short-covering rally in gold prices isn't entirely ruled out, the metal will ultimately see its appeal diminish as the Federal Reserve begins to hike interest rates, according to Martin Lakos, division director at Macquarie Private Wealth.
"We've seen gold fall down quite [sharply] so it won't surprise me if it starts to rally on a short-term basis having been oversold," Lakos told CNBC's "The Rundown" on Monday.
"But overall the U.S. dollar will continue to strengthen as the Federal Reserve raises interest rates, and clearly around the world inflation appears to be under control," he said.
With such factors at play, tell us when you expect a sustained rebound in the price of the precious metal:
