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Gold Gains on IMF Growth Cut, Virus Curbs Risk Demand


Tuesday, 21 January 2020 15:40 WIB

GOLDEMAS


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Gold rose for a third day after the International Monetary Fund trimmed its global growth outlook for this year and as a virus outbreak in China weighed on risk appetite across markets. Palladium dropped more than 3% after hitting a record on Monday.

Spot gold as much as +0.5% to $1,568.67/oz and was at $1,562.53 at 7:35am in London. Bloomberg Dollar Spot Index +0.1%.

The IMF predicted the world economy will strengthen in 2020, albeit at a slightly weaker pace than forecast in October, amid threats related to trade and tensions in the Middle East.

Source : Bloomberg


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