The IMF released an updated World Economic Outlook earlier this week, painting a grim picture for markets globally. It has revised its 2019 global growth forecast down from its previous expectation of 3.3% in April to 3% in the updated Outlook.
The report says, “Rising trade and geopolitical tensions have increased uncertainty about the future of the global trading system and international cooperation more generally, taking a toll on business confidence, investment decisions, and global trade.”
We know from previous experience that when economies falter, demand for gold increases as investors look for safer havens. Many Central Banks also up their gold stores. With the World Economic Outlook suggesting that uncertainty is set to continue at least for the foreseeable future, demand for gold is likely to thrive over the coming years. Buy now to benefit.