Signature lens
Dollar ↔ Gold Lens
The dollar doesn't move in isolation. This page holds it as the fixed reference point and shows how gold, Bitcoin, an emerging-market currency, equities and commodities are currently relating to it — with observed data, historical context and interpretation kept in separate lanes, because correlation is not causation.
Dollar (DXY), this window
Gold
View asset →Observed data
Historical context
Gold is priced in dollars, so a stronger dollar mechanically makes gold more expensive in every other currency. Gold has also often moved opposite to real yields, which tend to rise alongside a strengthening dollar — but the two don't always move together.
Bitcoin
View asset →Observed data
Historical context
Bitcoin has, at various points, traded like a risk asset that weakens with a stronger dollar and tightening liquidity, and at other points decoupled from that pattern entirely. Its correlation to the dollar has not been stable over time.
US Dollar / South African Rand
View asset →Observed data
Historical context
Emerging-market currencies, quoted against the dollar, mechanically weaken when the dollar strengthens. Historically this has also coincided with tighter global dollar liquidity, which can pressure EM economies beyond the exchange rate itself.
S&P 500
View asset →Observed data
Historical context
US equities have periods of moving with the dollar and periods of moving against it, depending on whether dollar strength is read as reflecting a strong US economy (good for earnings) or tightening financial conditions (bad for valuations).
Crude Oil (WTI)
View asset →Observed data
Historical context
Oil is dollar-priced globally, so a stronger dollar can make it more expensive for non-dollar buyers, which has sometimes softened demand. Oil's own supply and demand dynamics usually dominate this relationship.
Correlation is measured over the last 3 months of daily returns and changes as market conditions change — it describes the recent past, not a rule the two assets are bound to. See it computed across any markets you choose at /compare.
This analysis is educational and should not be considered financial advice. It is generated from historical price data and can be wrong. Markets reprice on news faster than any indicator updates. Never risk money you cannot afford to lose.