After the release of China’s increased export data for the month of September, with the hope that China may not require any additional stimulus for their growth, the prices of gold fell to the lowest level in more than two weeks on speculation.

The China’s export increased to 9.9% as compared to last year which is more than 5.5% of median estimate in Bloomberg News Survey by economists.  The spot price of gold slumped by 0.7% to $1,741.75 per ounce in Singapore. Similarly, December futures dropped by 1% to $ 1,742.60 on the COMEX, which are lowest prices in both the markets since 26^thof September.

Gold prices fell to the lowest daily level of last two months on Friday due to increase in US consumer sentiment to five years high, with the hope that Federal Reserve’s latest quantative easing (QE3), will improve the labor situations in the US markets

On the same way, China’s annual consumer price has also dropped down by 0.1% i.e. from 2.0% of August to 1.9% of September; which has left sufficient ground for their policy easing. Recently, China has also approved its spending plans on infrastructure.

Similarly the spot price of silver slid to one month low of $32.02, spot palladium fell to $627.22, which is its lowest level since last two weeks and spot platinum dropped to $1627.49 which is the lowest since 2 and half week in Shanghai Gold Exchange.