MTECHTIPS;-Gold Up as Dollar Dips on Powell; G 20 Awaited

MTECHTIPS;-Gold Up as Dollar Dips on Powell; G 20 Awaited

MTECHTIPS-Gold had its biggest one-day gain in more than a month with Act One of the Fed and Act Two will follow tomorrow. Then it will be on to the main event for gold (and pretty much all markets), the G-20 in Buenos Aires and whether a US-China trade deal will be done on its sidelines. Benchmark February gold futures on New York's COMEX rose $9.90 to settle at $1,229.80 per troy ounce. Fed Chief Jerome Powell’s speech on "The Federal Reserve's Framework for Monitoring Financial Stability" at the New York Economic Club on Wednesday gave Wall Street just the tonic needed for a mid-week bump. Powell said the Fed’s “gradual pace of raising interest rates has been an exercise in balancing risks,” but added “there is no preset policy path.” That sent a dovish signal on the dollar that the central bank will do the much-anticipated fourth rate hike of 2018 in December, then hold off for 2019 depending on how well the U.S. economy performs

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