US stocks dropped as a result of the IMF announcement that the economy might not recover to the high it was before 2007.
Asian markets also declined across the region. The Nikkei lost 1.15% as the Dollar remained lower against the Yen. European markets are also lower today due to concerns regarding the strength of the European economy.
Oil dropped to its lowest price since 2010 after the EIA reported that inventories increased by 5 million barrels during the past week. Gold climbed to a 2 week high following the IMF Meeting results.
Trading Tip: As the IMF semi- annual meeting is taking place today and tomorrow we may see Gold move higher in the near term.
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