Gold crosses $4,600 an ounce as Jackson Hole attention rises
Business
Gold just crossed $4,600 an ounce, catching investors' attention ahead of the annual Jackson Hole symposium.
The jump comes after bullion swung between gains and losses on Thursday after snapping a five-day winning streak the prior day, and fresh US data showing inflation is still higher than what the Fed wants, raising worries that interest rates might go up again.
Gold up 14% amid Treasury intervention
Gold has surged 14% this month, thanks in part to the US Treasury stepping in to manage rising national debt costs.
That's made gold more appealing as a safe bet when the dollar feels shaky.
Now all eyes are on Fed Chair Kevin Warsh's speech tomorrow, which could hint at whether another rate hike is coming.