1. Starting from commodity attributes, regardless of other factors, when the dollar rises, gold will fall because it is also denominated in dollars. If the dollar falls, each dollar can only buy less gold, and relatively speaking, gold will increase in price. Generally, this will only happen in a short time. For example, when the dollar depreciates/appreciates sharply, it must be substantial!
2. In terms of monetary attributes, gold can be said to be the king of money. As long as there is a large-scale economic crisis in the world, gold, as the safest currency in the world, will be immediately sought after by investors all over the world. No matter whether the dollar appreciates or depreciates, the price of gold will continue to rise. Bottom line: the price of gold mainly changes with the change of market supply and demand, and the rise and fall of the dollar is only one of the factors that affect its price. Supply and demand affect everything!
Generally speaking, precious metals are inversely proportional to the US dollar, and the US economy affects the US dollar, thus affecting the price fluctuation of precious metals. But this is only one factor that affects the price of precious metals, and there are other factors that affect its fluctuation, such as geopolitics, war, supply and demand, etc.