From FT: Gold is glistening once more, even though the dollar is rising. For the past two years, gold was an almost perfect inverse of the dollar, gaining whenever the US currency weakened.
This made sense, as gold is traditionally seen as a store of value. Investors would hedge against a falling dollar by buying more gold. But this meant that gold fell in the latter half of last year, in tandem with the rising dollar, despite the kind of extreme uncertainty that would normally prompt people to buy gold….. Full Article: Source