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Photo by BulentiCamci/Getty ImagesGold traded above US$4,600 an ounce as investors turned their focus to the Federal Reserve’s interest-rate path ahead of the annual Jackson Hole gathering.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorBullion swung between gains and losses on Thursday after snapping a five-day winning streak the prior day. United States economic data this week showed that inflation remained well above the Fed’s target, raising prospects for a rate hike, which is typically a headwind for the non-yielding precious metal.Bullion is still up about 14 per cent this month, given fresh impetus by the U.S. Treasury’s unexpected intervention in the bond market last week. Efforts to control the cost of the U.S. debt pile have revived interest in the so-called debasement trade that helped power gold’s record-breaking rally last year, when investors bought the metal as a hedge to protect themselves from runaway budget deficits and a weaker dollar.SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of FP West: Energy Insider will soon be in your inbox.We encountered an issue signing you up. Please try againInvestors will be seeking clues to the Fed’s approach to inflation when Kevin Warsh makes his first major speech as chairman of the central bank this week. The much-anticipated address on Friday at the Jackson Hole symposium offers Warsh an opportunity to counter criticism that he hasn’t been forthright with his views on the economy.“If Warsh’s speech does not lay the groundwork for a rate hike in September, then it will likely be interpreted by the market as dovish,” said Liu Shiyao, an analyst at Chinese brokerage Zijin Tianfeng Futures Co. Lower borrowing costs are typically supportive for precious metals, which don’t pay interest.Gold gained 0.4 per cent to US$4,610.89 an ounce at 3:19 p.m. in New York. Silver was up 1.7 per cent at US$69.29 an ounce. Platinum and palladium advanced. The Bloomberg Dollar Spot Index was steady.—With assistance from Robin Paxton, Jack Ryan and Yvonne Yue Li. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.