Gold slid to $1,155.60 (-0.34%) on Monday morning. However concerns over a slowing Chinese economy and massive declines in stocks around the globe are likely to persuade investors to pay more attention to this safe-haven asset.

Bullion advanced to $1,168.40 on Friday, its highest level since July, and gained more than 4% last week, the most since the middle of January.

Expectations for a rate hike in the U.S. shifted to December or even the beginning of 2016 from September when Fed policymakers meet next.