Gold prices were plummeting on Monday with the futures contract down over 6%, or around $94 to $1,406.30 an ounce.
On Friday, the price of gold plunged 5% to $1,487 an ounce.
FRIDAY: Gold prices dive 5%
Analysts attributed last week's plunge to investors who fear gold won't be the safe haven it has been when inflation spikes, the economy deteriorates or the sale of gold to raise cash skyrockets.
As recently as mid-September, gold prices were flying above $1,800 an ounce.
On Monday, a slowdown in Chinese economic growth added to doubts about the strength of the world economy.
The yellow metal has now hit a two-year low amid concerns that a 12-year bull run for the commodity has come to an end.
Oil prices were also seeing steep declines on Monday. Crude-oil futures for May delivery fell over 3% to $88.38 per barrel.
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