Strong USD Aids Dedollarization and Au Supply DeficitSorry. Link at bottom got clipped off on prior post.
With the recent dollar index rise to its current level of 109.03 as of this moment the price of gold,rather than fall inversely to USD, has remained elevated.
https://stockcharts.com/sc3/ui/?s=%24USD
https://stockcharts.com/sc3/ui/?s=%24GOLD
This change in the inverse relationship between the DXY and gold maybe the result of China (and India, Turkey, other central banks, and institutions) having the ability to purchase more gold with their U.S. dollars increasing the demand for gold and clearing gold out of LBMA's dwindling inventory.
A stronger dollar aiding dedollarization is creating a gold supply deficit taking down LBMA inventories that annual gold production cannot fill.
https://www.zerohedge.com/news/2025-01-08/gold-china-buys-december-dip-adds-11-tonnes-2x-november