Gold price fell but remained supported as the Chinese stock indexes dropped again on concerns over the slowdown in the Chinese economy. The Chinese National Bureau of Statistics released its consumer and producer price inflation data for China on Saturday. The Chinese consumer price index (CPI) rose at annual rate of 1.6% in December, in line with expectations, after a 1.5% gain in November.
The Chinese producer price index (PPI) dropped 5.9% in December, missing expectations for a 5.8% fall, after a 5.9% decline in November.
February futures for gold on the COMEX today fell to 1100.40 dollars per ounce.