Gold tumbled after Federal Reserve Chairman Jerome Powell opened the door to four interest rate hikes this year on the back of a strengthening U.S. economy, another instance of the competing forces that have corralled prices into a $65 range since the start of January.
While bullion is under pressure in an environment where the global economy is recovering and interest rates are climbing, the reappearance of inflation, the prospect of wider U.S. deficits and a long-term decline in the dollar have lent support to the bulls. Gold held steady at $1,319.40 an ounce Wednesday after a 1.2 percent drop a day earlier. Here are five charts that show the quandary.
