Gold rose to around $4,620 an ounce on Thursday, recovering part of the previous session’s losses as investors assessed the Federal Reserve’s monetary-policy outlook ahead of a key meeting next month. Data released Wednesday showed US PCE prices, a measure of personal consumption expenditures, increased more than expected in July and remained well above the Fed’s target, supporting a bullish outlook on interest rates. Investors are now focused on Fed Chair Kevin Warsh’s speech at the annual Jackson Hole symposium on Friday, though he is not expected to provide clear guidance on the central bank’s September policy decision. Gold remained close to its highest level in three months, supported by the so-called debasement trade as investors hedged against the risks of a US debt crisis and a weaker dollar.