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Gold Prices Slip Despite IMF’s Outlook Update

Gold prices slipped on Wednesday in Asia even as stocks declined after the International Monetary Fund (IMF) downgraded its economic outlook and puts growth forecast at the lowest levels since 2009.

Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,306.65 an ounce by 11:10 PM ET (03:10 GMT).

Asian equities and other risk assets fell on Wednesday after the IMF said the global economy should grow by only 3.3% this year, down from the 3.5% forecast back in January.

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