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.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.

The safe-haven gold, which usually moves in directions opposite to stocks, also fell today.

The IMF has already cut its forecast twice in the past six months.

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