Gold fell to its lowest level in more than two weeks on speculation that China may not need additional stimulus after export growth is higher than expected at 9.9% in September compared to the previous year. Silver fell to its lowest level in the past month.
Gold contract will be ended down 0.7% to $ 1,741.75 per ounce, its lowest since 26 September before being traded at $ 1,744.10 in Singapore. December gold futures contract fell 1% to $ 1,742.60 on the Comex in New York, also the lowest level since September 26.
Cash gold in Shanghai Gold Exchange was down 1.5% to 352 yuan (56.2 U.S. dollars) per gram. Spot silver fell 1.4% to $ 33.05 per ounce, the lowest since Sept. 13. Platinum contract coming to an end down 1.1%% to $ 1.6233,50 per ounce, the lowest since September 27 and traded at $ 1,640.50. Palladium was 0.2% higher than $ 636 per ounce after declining 0.6% to $ 630.50, the lowest since Oct. 1.