Gold prices and their relationship with the US dollar or the dollar index are strongly correlated. As the dollar rises, gold prices tend to fall, while when the dollar weakens, the price of gold tends to increase.
source https://www.caclubindia.com/articles/akshaya-tritiya-2023-what-to-keep-in-mind-before-investing-in-gold-49563.asp
source https://www.caclubindia.com/articles/akshaya-tritiya-2023-what-to-keep-in-mind-before-investing-in-gold-49563.asp
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