Gold is going down as U.S. dollar rises, Keith McCullough notes

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29.10.2026

Gold is going down as U.S. dollar rises, Keith McCullough notes — U.S. dollar strength tied to gold drop

The strengthening U.S. dollar is connected to the recent decline in gold, according to Keith McCullough, founder and CEO of Hedgeye Risk Management.

McCullough described the relationship between his long position in the U.S. dollar and the downward movement in gold prices.

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McCullough has recently tracked notable downturns in global equity markets. He reported that Indonesia's stock market declined by 3.6 percent overnight, bringing monthly losses to 22.4 percent. McCullough also highlighted a 3.7% drop in the KOSPI, leaving the index 39.1% below its peak.

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