IMF Forecasts Slower 3.2% Global Growth; U.S. Revised Up, Gold Holds Near Record Highs Despite Positive Signals

• IMF forecasts stable but slower global economic growth of 3.2% in 2024, same as 2023 • U.S. growth revised up on stronger momentum to 2.7%; Canada at 1.8%; Eurozone at 1.4%
• Gold market holds near record highs above $2,400, ignoring positive U.S. economic signals • Rate cuts still expected in 2H 2024 despite markets pricing out June cut • Falling inflation projections support gold on expectation of eventual Fed rate cuts