Gold and the U.S. Dollar Index

Advertisement - This article is distributed on behalf of Fury Gold Mines Ltd. and Gold X2 Mining Inc., with whom SRC swiss resource capital AG maintains paid IR advisory agreements. Publisher: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: June 2, 2026, 1:50 p.m. Zurich/Berlin

When the U.S. dollar strengthens, the price of gold typically declines, and vice versa. However, this correlation has weakened in recent years. The DXY should therefore not be viewed as the sole indicator. Gold is now traded more independently of the U.S. dollar. Today, central banks’ diversification efforts, geopolitical risks, and shifts in demand for currency reserves are having an impact. The DXY currently stands at around 99. It has been fluctuating between 95 and 100 since June 2025.

A phase of accumulation could also be underway right now. This is because the Commitment of Traders (COT) report indicates that swap traders are building long positions in gold futures. In a swap, one party exchanges an asset for a liability; for example, if one party holds a claim in euros and another in U.S. dollars, the currencies are swapped. What is of interest, in any case, is that large institutions are building positions, and as is usually the case, they are doing so gradually. A buy signal has not yet been identified, but one could emerge. This can be inferred from the positioning of institutional investors.

Currently, many investors are wondering whether they should invest in gold now. Gold does not represent quick profits, but rather stability, acting as an anchor. When investing in physical gold, the question of storage always arises. Investors have it easier with securities, as they can buy and sell them at any time . In the medium to long term, an upward trend in the gold price is generally expected. This is the view of Thomas Kulp, gold expert at DZ Bank, for example.

Gold X2 Mining (- https://www.commodity-tv.com/ondemand/companies/profil/gold-x2-mining-inc/ -) owns the advanced Moss Gold Project (gold, silver, copper) in Ontario. Wholly owned, the project is equipped with top-notch infrastructure and is once again delivering excellent drill results, such as 11 meters grading 8.84 grams of gold per ton of rock. Additionally, Gold X2 Mining has acquired Kesselrun Resources, thereby expanding the Huronian Gold Project and, consequently, the land package of the Moss Project.

Fury Gold Mines (- https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ -), well-financed, holds a gold and mineral exploration portfolio totaling over 157,000 hectares in Québec. In addition, the company owns 11.3 million common shares of Dolly Varden Silver Corp. In 2025, the company drilled a total of more than 18,000 meters on its projects. Encouraging drill results were recently reported from the Eau Claire project (for example, 11.74 grams of gold per ton of rock over 6.63 meters), which is being advanced toward a feasibility study.

Current company information and press releases from Gold X2 Mining (- https://www.resource-capital.ch/de/unternehmen/gold-x2-mining-inc/ -) and Fury Gold Mines (- https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ -).

Further information is also available in our new Precious Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/.

Sources: Fury Gold Mines, Gold X2 Mining,

https://www.benzinga.com/Opinion/26/05/52881450/gold-is-the-correction-finally-over?utm_source=finanzen.net&utm_campaign=partner_feed&utm_medium=referral;

Oberbay. Volksblatt, June 2, 2026;

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2025-04/.

Pursuant to Section 85 of the German Securities Trading Act (WpHG) in conjunction with Article 20 of the Market Abuse Regulation (MAR) (EU) 2016/958, we hereby note that authors, employees, and affiliated companies of Swiss Resource Capital AG (SRC) may hold positions (long/short) in the issuers discussed. Compensation/Relationship: IR contracts/advertorials: Author’s own positions: none; SRC net position: less than 0.5%; Issuer’s stake ≥ 5% in SRC: no. Update Policy: no obligation to update. No guarantee regarding the German translation. Only the English version of this news release is authoritative.

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