Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China's local governments struggle to rein in soaring housing prices which are fuelling concerns of a property bubble. Prices in 100 major Chinese cities rose 14.9 percent in the first nine months of 2016, with August and September seeing record month-on-month growth of more than 2 percent, according to the China Index Academy (CIA), a private property research institute.
Authorities are introducing new policies which include restricted buyer qualifications, limited purchase amounts or raised down payments and preventing property speculation. The Ministry of Housing and Urban-Rural Development on Monday said that 45 property developers or agents were being investigated for stoking speculation through false advertisements, rumors and breaches of presale rules.
Ratings agency Fitch expects Chinese central government to implement city specific policies to cool the overheated property market in higher-tier cities or cities with low inventories. Fitch report also says the local governments in China have been putting up for land for sale to increase supply in the short to medium terms.
China's overall household debt is still low, therefore local solutions are better than broad monetary tightening, according to HSBC.
