The GDP of China rose in the third quarter by 2.3% (Q-2-Q), which is nearly 9.1%
in annual terms. This is a drop in the growth rate from the previous quarter as
the GDP grew by 9.7% and 9.5% in the first and second quarters (in annul terms),
respectively. This growth rate in Q3 2011 was less than expected according to
Bloomberg. These figures indicate that the Chinese economic progress slowed down
from the beginning of the year, but is still robust despite the restrictions
that the People Bank of China imposed on the commercial banks by raises the
reserve requirement ratios during the year in order to curb the number of loans
given and by doing so to reduce the inflation pressures. This news might be
among the reasons to pull down not only major commodities prices including gold,
silver and crude oil prices, but also the stock markets. Current gold price,
short term futures (November 2011 delivery) is traded at $1,663.6 per t oz. a
$13 decrease or 0.78%, as of 09:30*. Current Nymex crude oil price, short term
futures (November 2011 delivery) is traded down by 0.76% to $85.72 per barrel as
of 09:34*. Euros to US
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