WASHINGTON (dpa-AFX) - Gold prices held steady near a three-week low on Tuesday while the dollar hovered near 2-week highs against its peers amid mounting concerns of a global economic slowdown.
Spot gold inched up 0.22 percent to $1,284.07 per ounce, after hitting its lowest level since Dec. 28 at $1,276.31 on Monday. U.S. gold futures were marginally higher at $1,283.25 per ounce.
Risk appetite remained in 'risk-off' territory after the IMF once again cut its global growth forecasts, citing the threat of a trade war, stalled Brexit talks and slowing Chinese growth.
The IMF now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020, down 0.2 and 0.1 percentage points below its last forecasts in October.
Brexit worries also lingered as U.K. Prime Minister Theresa May's much-anticipated 'plan B' on Brexit looked like a tweaked version of her Plan A, which suffered a historic parliamentary defeat last week.
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