15.04.2015 - Oil continues to rise gradually, but we expect a trend change

The price of gold continues to decline amid weak data on China's GDP growth, which slowed to 7.0% in Q1, which was minimal growth for 6 years, as well as on the background of falling growthof industrial production in March to 5.6%, vs. expected 6.9%. We recall that China is a major buyer of gold in the world. In addition, after yesterday's weakening of the US dollar on poor retail sales data, the growth of the dollar resumed. In case of a change of a positive trend on the stock markets, gold demand may rise. We maintain our positive outlook for the medium-term, but in the near future, we expect the price decline.

The price of Light Sweet crude oil continues to rise gradually. The reason for the increase in prices was the weakening of the US dollar on weak retail sales data. At the same time statistics on reduction the rate of growth in GDP and industry in China could not change the positive attitude of traders. Today is forecasted to be published the data on inventories of crude oil and petroleum products in the United States. Analysts predict that in the near future reserves and production will decline in the US, but oversupply is the main driver for the decrease in quotations of black gold. We maintain our medium-term negative outlook, but the growth of prices may continue in the near future.

March 4, 2015 of XTI-USD Performance

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