Gold jumped to its highest level since mid-May, good news for gold holders and a sign investors are hedging ahead of a big week for interest rate news.

• A US Treasury plan to buy back government debt weakened the dollar, pushing money into gold.
• Investors are buying ahead of this week's inflation report and the Jackson Hole central bank meeting.
• Gold funds pulled in their biggest weekly inflow in ten months, led by buyers in North America and Europe.
• The US widened sanctions to hit companies and countries still doing business with Iran, adding to the safe-haven demand.
• Analysts see the path of least resistance staying sideways-to-higher unless the charts turn.

Outlook: The Fed's preferred inflation reading Wednesday and new Fed chair Kevin Warsh's first Jackson Hole speech Friday will set gold's next move.