16.05.2016 - Industrial production in China increased by 6.0%

At the weekend was published important data from China. Thus, the focus of traders was drawn to data on industrial production, whose growth in April slowed to 6.0% for the year compared to 6.8% in March. The increase in production was recorded in 35 of 41 industrial sectors in China. The leaders were automotive (12.1%) and chemicals (10.0%). The slowdown in industrial growth in China reinforces the fears of investors about the state of the second-largest economy in the world, which has a strong impact on commodity markets. As a result, the interest in defensive assets like gold grew and it may increase in the case of a fall on the US stock markets. In this case, the price of gold may rise to 1300, 1330 and 1350 dollars per troy ounce.

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