MTECHTIPS;-Gold Prices Inch Up as Traders Eye Fed and G20 Summit

MTECHTIPS;-Gold Prices Inch Up as Traders Eye Fed and G20 Summit

MTECHTIPS-Gold prices edged up on Monday as metals traders looked ahead to high-level U.S.-China trade talks on Friday, which could weigh on precious metals this week. Gold futures for February delivery on the Comex division of the New York Mercantile Exchange traded 0.06% higher at $1,229.8 a troy ounce by 09:41 PM ET (02:41 GMT).   U.S. President Donald Trump and Chinese President Xi Jinping are due to meet at the G20 summit in Buenos Aires later this week to discuss trade issues, and market watchers will be waiting to see if talks between the pair can ease trade tensions between the world's two largest economies. Federal Reserve Chairman Jerome Powell will deliver a speech on Wednesday to address the economic outlook, which may give the dollar a boost. A firmer U.S. dollar makes dollar-denominated assets such as gold more expensive for foreign buyers, and vice versa. The U.S. Dollar Index that tracks the greenback against a basket of other currencies gained 0.07% to 96.912. The dollar has been gaining momentum since late October.

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