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Gold dropped, snapping a four-day winning run, as the dollar rebounded and a Federal Reserve policy maker said the U.S. economy is strong enough to warrant an increase in interest rates soon, warning that waiting too long risks high inflation or asset bubbles.

Sentiment on the greenback remained vulnerable after the minutes of the Fed’s July policy meeting released on Wednesday showed that policymakers were still divided over the need to raise interest rates this year.

Bullion for immediate delivery fell as much as 0.5 percent to $1,345.80 an ounce and traded at $1,347.71 at 11:29 a.m. in Singapore, according to Bloomberg generic pricing, as a gauge of the greenback climbed 0.4 percent. The metal remains 0.9 percent higher this week.

While the Fed’s hesitation in raising rates this year has helped boost gold 27 percent, recent comments have left open the possibility of a move before year-end. Fed Bank of San Francisco President John Williams said on Thursday it makes sense to get back to a pace of gradual increases, preferably sooner rather than later. Investors will look for further clues as Chair Janet Yellen speaks Aug. 26 at an annual gathering in Jackson Hole, Wyoming.

“With the market looking forward to Jackson Hole, we wouldn’t be surprised to see the metal to remain range-bound,” said Jordan Eliseo, Sydney-based chief economist at trader Australian Bullion Co. Whilst gold has no lack of supportive factors, a rally in risk assets, greater chances of another hike from the Fed, a drop in net longs in four of the last five weeks, and minor outflows from gold-backed funds have limited the upside, according to Eliseo.

Reference: Bloomberg, Investing