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IMF cuts U.S. growth forecast, warns against ‘fiscal cliff’
The International Monetary Fund on Tuesday pared its growth forecast for the US economy this year, warning against a “fiscal cliff” at year-end and the Obama administration’s proposed spending cuts. The IMF estimated 2012 US economic growth at 2.0 percent, down from April’s forecast of 2.1 percent, and said that…
Gold prices to strike records ‘above $1,600 this year’
LONDON – Record-breaking gold will likely surge past $1,600 per ounce for the first time later this year, driven by fears over high inflation and low global interest rates, consultancy GFMS forecast Wednesday. “We would not be surprised … to see gold break through $1,600 before the end of the…
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