The head of the International Monetary Fund, Christine Lagarde, summed up the global outlook in a speech in Indonesia, where she said global economic growth was now likely to be weaker than had been expected just a few months ago.
She cited a slower recovery in major advanced economies and a further slowdown in emerging nations and highlighted the need to “be vigilant for spillovers” from China’s stutters.
In the metals markets, benchmark copper CMCU3 on the London Metal Exchange ended at $5,067 a tonne, down 1.3 percent from Friday’s close, as markets reopened after a long holiday weekend.
Gold rose 1 percent as the dollar and global equities dropped. Spot gold XAU= rose to a session high of $1,147.16 an ounce. ∞∞∞∞∞ MORE »»»»