Gold Consolidates Above $4,600 as Investors Weigh Fed Rate Path

Gold is holding above $4,600 an ounce and is up about 14% this month, recently clearing a key momentum level (the 200‑day moving average).
Investors are focused on the Fed and this week’s Jackson Hole symposium—Kevin Warsh’s speech could signal the central bank’s next steps on stubborn inflation.
Big ETF inflows (about 28 tons last week) and a recent U.S. Treasury market intervention have revived hedge buying, as traders buy gold against inflation and a weaker dollar.