The IMF said the pandemic had a more negative impact on activity in the first half of 2020 than anticipated.
It's projected global growth at -4.9% for this year, and -8% in advanced economies, both 1.9 percentage points below the forecasts in its April World Economic Outlook.
It also expected a cumulative loss to the global economy from the pandemic crisis of more than US$12 trillion over 2020 and 2021.
The gold price neared $1,780 an ounce on the spot market earlier but had eased to about $1,763/oz at the time of writing.
The FTSE 100 closed 3.1% lower yesterday and the S&P 500 fell 2.59%.
Base metals bar lead closed lower in London.
Chinese markets are closed today and Friday for the Dragon Boat Festival.
Among the mining majors, Freeport-McMoran lost 4.6% in New York, Rio Tinto fell 2.3% in London, Barrick Gold gained 0.69% in Toronto and BHP was down 2% in morning Australian trade.