is there really a gold \ $ correleation ?

there's some coincidence but not in the proportion i'd expect

 

You gots to ask yerself one question... What is the price of gold, i.e. what is gold denominated in?

 

I agree with Martinghoul.

The negative correlation between "gold" and the "US Dollar" is true by definition.

I can understand why there are references to the "price of gold" because it's rare to see it quoted in currencies other than the USD.

However I am frequently amused by references to the direction the "US Dollar" is trading. Against what exactly? Sometimes it's quoted in terms of movements in the $DXY, sometimes it's quoted against the EUR / JPY / GBP; and sometimes it's quoted against less heavily traded currencies such as CHF, AUD, CAD, CNY.