Good news for gold and silver as IMF reports China Growth may be OK

Good news for gold and silver as IMF reports China Growth may be OK

Today is Tuesday 4th October 2016 and we are briefly covering the latest IMF announcement published earlier today.

Although the IMF raised its prediction for UK GDP growth this year to 1.8%, the figure for 2017 was cut to 1.1% as it warned that the global recovery remains “weak and precarious”.

The IMF’s latest World Economic Outlook predicts global growth this year will reach 3.1%, rising slightly in 2017.

A fall in US growth this year to 1.6%, down from the previous 2.2% forecast, will be offset by increases in countries including Japan, Germany and Russia and India, the IMF said.

For those of us who invest in gold and silver, it does suggest that Chinese demand should, at least short term, continue unabated. This means a continued demand for both gold and silver by China, India, Russia, Germany and Japan, this will continue to put upward pressure on prices. This bodes particularly well for silver in 2017 should the IMF prove correct.

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