The U.S. dollar has been one of the major beneficiaries of macroeconomic and geopolitical headwinds. The dollar has strengthened steadily against the Euro, British Pound, and the Yen amid the uncertainties surrounding the stock market and economy.
Since gold and the dollar have an inverse relationship, gold has been under pressure due to the strengthening U.S. dollar. Investors are avoiding risky investments and parking up their money in the U.S. dollar, which they perceive as more secure in uncertain times.
