Gold's reputation as the market's ultimate safe haven is facing one of its toughest tests in recent times.
Since the beginning of June, the yellow metal is down by over 4.3%, hitting an intraday low of $4,268.9 per ounce on Monday.
The decline is the aftermath of a stronger-than-expected U.S. nonfarm payrolls report that reignited expectations for higher interest rates.
Overall, it is a dramatic round trip for bullion, erasing the entire year's gain.
When the metal reached near $5,600 an ounce in January, it was up nearly 30%.
