You can find a great article on how the US dollar and gold are connected on The Balance.  Normally, when the dollar increases compared to other currencies, the price of gold tends to fall in US dollars terms, which is because gold tends to become more expensive in terms of other currencies.


Bruce Campbell on Gold vs. US dollar

He is well under weight in the base metals and materials and is glad for it.  The US dollar has been the place for investors instead of precious metals.  Cannabis stocks are in favour, but the recent proposal of Constellation Brands to take over Canopy Growth would likely require the US markets will become open in the next 3-4 years to make the valuation make sense.  The investment would be worth $10 billion and he is not sure how successful it would be.

We will have to see how the situation with gold develops in the fall, for now, the recommendation is to stick to US dollars.