Gold futures held ground at more than five-year low on Friday, extending their losing streak to a fourth week in a row, the longest stretch of weekly declines since late July.

December gold US:GCZ5 shed 10 cents to settle at $1,080.90 an ounce on Comex, the lowest settlement for a most-active contract since February 2010.

For the week, gold lost 0.6%—its fourth weekly loss and the longest such stretch of declines since the five-week drop that ended July 24.

In the short term, “gold was badly damaged technically in the last two weeks and further weakness is quite possible,” said Mark O’Byrne, research director at Dublin-based GoldCore.

“ ‘With gold close to a half decade low, we are seeing some of the worst sentiment towards gold in many years.’ ” — Mark O’Byrne, GoldCore

He said that $1,000 to $1,050 per ounce is possible on the downside and previous resistance could become support. “With gold close to a half decade low, we are seeing some of the worst sentiment towards gold in many years,” O’Byrne said.

But “from a contrarian perspective that suggests that we are close to a bottom,” he said.

See also: Four reasons one investor thinks gold could jump this year

Over the longer term, gold and other dollar-denominated commodities have been hamstrung at the prospect of a hike to benchmark interest rates by the Federal Reserve in December, which would lift the dollar.

On Thursday, comments from Federal Reserve Vice Chairman Stanley Fischer added to the growing sense that the central bank will raise interest rates in December. New York Fed President William Dudley also suggested a December rate hike.

Meanwhile, St. Louis Fed President James Bullard and Richmond Fed President Jeffrey Lacker said central bank’s pledge to hike rates at a gradual pace was just a forecast.

Several Federal Reserve officials “virtually” confirmed a December interest-rate rise, “no doubt trying to gauge reactions, not only in the U.S. but globally,” said Julian Phillips, founder of and contributor to GoldForecaster.com.

“That’s why we were watching the dollar so carefully,” he said. “The U.S. cannot afford a stronger dollar, but it looks like it wants to go that way.”

The ICE U.S. Dollar Index DXY, +0.37% climbed Friday, just about erasing all of the week’s losses by the time gold prices settled. Moves in the U.S. unit can influence the attractiveness of dollar-denominated commodities.

Meanwhile, other metals finished lower. December silver US:SIZ5 lost 2.1 cents, or 0.2%, lower at $14.204 an ounce, while December copper US:HGZ5 fell half a cent to $2.168 a pound. Both metals saw weekly declines of roughly 3.3%.

January platinum US:PLF6 fell $13.20, or 1.5%, to $863.70 an ounce, down about 8.1% on the week, while December palladium US:PAZ5 ended $19.45, or 3.5%, lower at $539.25 an ounce, down 12% for the week.