The relationship between the US dollar and gold is often characterized by an inverse correlation. When the US dollar weakens, gold prices tend to rise and vice versa. Earlier, gold prices in the international markets were primarily driven by real interest rates. Robust US economic release boosted bets of higher-for-longer rates which ended up lifting the US currency and bond yields.
Gold poised for weekly loss as US delays decision on Middle East involvement
Gold prices remained stable on Friday but are set for a weekly loss as President Trump delayed a decision on intervention in the Israel-Iran conflict.