Gold fell the most in New York in more than three months amid concern that the global economy is slowing and as traders awaited the outcome of the tomorrow’s U.S. presidential debate.

In addition, negative connected with the situation in Europe because of the uncertainty of an appeal for international financial assistance of Spain and fears that the summit this week the European politicians will not be able to find solutions to the debt crisis.

The summit of political leaders of the European Union (EU) will be held October 18-19.

Against this background, the Chinese government published on Saturday data showing that China's exports to the EU dropped the fourth month in a row - by 10.7% in September.

October futures price of gold on the COMEX fell $ 23.70 today and now is 1733.20 an ounce.