Gold prices, which hit a four-year low of $1,130.40 in November, stayed below $1,200 an ounce on Monday, as the precious metal price fell 1.56% to $1,177.40 at 12:50 p.m.
A strong dollar has kept gold prices down for the last several weeks. The precious metal was down approximately 15% on Monday from its 2014 high of $1,392.60, which it hit on March 17.
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"The overall environment is very negative for gold," Phil Streible, a senior commodity broker at R.J. O'Brien & Associates in Chicago, told Bloomberg. "The market will remain volatile as trading will be very thin for the next two weeks."
More than 3.7 million shares had changed hands as of 12:51 p.m.
Separately, TheStreet Ratings team rates ELDORADO GOLD CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and weak operating cash flow."