Gold traded near the lowest level in two weeks even as Asian stocks and U.S. futures slipped after fresh data raised concerns for global growth and trade.
The International Monetary Fund cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. This follows GDP data from China on Monday which showed its slowest expansion since the 2009 financial crisis last quarter.
Spot gold -0.1% to $1,279.19/oz at 9:08am in Singapore. Price touched $1,276.82 on Monday, lowest level since Jan. 4.
Source : Bloomberg