20.01.2015 - Forecasts of global GDP growth put pressure on oil

The price of gold continues to rise amid growing fears of investors about the future growth prospects of the US stock market. Permanent decline in global GDP growth forecasts increase interest of traders in low risk assets like gold. Today, the IMF published a report, according to which GDP growth of the world will grow by 3.5% in 2015 and 3.7% in 2016. Earlier it was expected that this year the increase will be 3.8%. Among developed countries, the forecast has been improved only on the US economy - up to 3.6% versus 3.3% previously. The excess of oil on the market is likely to stay in the first half of 2015 and in this connection we maintain a medium-term negative outlook for WTI crude oil with the target at $ 40 per barrel.

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