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Gold Prices Inch Up; Dollar Little Changed as IMF Cuts Global Growth Forecasts::

Commoditypandit.com – Gold prices inched up on Tuesday while the dollar remained largely unchanged following reports that the International Monetary

Fund (IMF) cuts its global economic growth forecasts for 2018 and 2019.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange was up 0.5% at $1,193.90 a troy ounce by 1:50AM ET (05:50 GMT).

The fund said that it was now predicting a 3.7% growth, down from the 3.9% growth it forecasted in July. It was the first downgrade since July 2016.

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