GOLD PRICES fell back to $10 per ounce on Wednesday from Tuesday’s 2-week high of $1745, reflecting the ongoing tensions between China and neighboring Asian states. Meanwhile, the IMF raised its global GDP forecasts for 2021’s rebound from the Covid Crisis.
The Washington-based think tank and sovereign lender also urged national governments to put in place a “solidarity tax” on profitable businesses and high-earning citizens so that “everybody contributes to the effort necessary for recovery from Covid-19.”
New cases of the virus continue to set or hold daily records in many major and emerging economies yesterday, as Brazil reported more than 4000 deaths
Global economic activity shrank only 3.3% last year according to the International Monterary Fund’s latest estimates, 1.1 points less than guessed in October, while 2021’s GDP growth is now predicted at 6.0%, up from the previous 5.2% forecast.