Dollar, oil and gold are all denominated in dollars, and the exchange rate change of the dollar will have an impact on the prices of gold and oil. The depreciation of the US dollar against other currencies will not only directly lead to the rise in the prices of commodities denominated in US dollars such as crude oil and gold, but also prompt investors to shift from US dollars to other assets in the financial market. Because oil and gold have financial properties and are potential targets of capital flows, the demand for them may increase, thus pushing up prices further.
Inflation and currency depreciation in other countries around the world may also push up the prices of gold and oil. From an economic point of view, moderate inflation is conducive to promoting economic growth. Many countries will buy bonds or issue more money to stimulate the economy during the economic downturn. Currency depreciation will eventually lead to a relative increase in futures prices of commodities such as gold and crude oil, showing a certain degree of homogeneity. In addition, the price change of crude oil futures will also play a certain role in promoting gold futures. This is mainly because crude oil, as an energy and industrial raw material, its price increase will directly lead to the increase of inflationary pressure, increase the demand for gold preservation, and trigger the rise of gold price.
Geopolitics, for gold, the increase of geopolitical risks will stimulate the risk aversion of financial markets, leading to an increase in gold demand and a rise in gold prices. For crude oil, if geopolitical events occur in oil-producing areas, the production and transportation of crude oil will be hindered, and the oil supply will decline, which will support the oil price. Therefore, when geopolitical events occur, the probability of gold and crude oil prices rising at the same time is greater.
Summary: After all, gold and crude oil are two relatively independent products, and the relationship is directly proportional. However, in the actual operation process, you can't buy crude oil because gold has gone up, nor can you buy gold because crude oil has gone up. This is very wrong. It depends on what kind of goods the news is aimed at.