I don't understand. Could you say more about why the gold price means that the dollar is doing well?
re. gold & dollar relation.
Well, yes and no. The relationship is not causal, although it can be. In the case of today the simultaneous decrease in dollar exchanges and increase in gold are related only by circumstance. Besides, the dollar exchange drop is nowhere comparable to the gold/dollar increase.
Like oil, gold is up because of 1) demand in Asia; 2) insecurity in geopolitics. Were the dollar related to this, its value against other currencies would have dropped vastly more than it has. The dollar's recent drop v. the yen and the euro is more about expectation that the Fed will slow its interest increases, thereby making dollar holdings less attractive. However, as with the dollar drop of last year there's a limit. The problem is that things based in dollars are too valuable, especially US Treasuries and the U.S. stock markets. Investment in the U.S. remains the best quality investment in the world. There are higher returns elsewhere, but the U.S. stands as the global hedge.
Oil and gold prices reflect international consumption and international tensions. The dollar value is down due to the same, but the reality of U.S. economic and political strength keeps getting in the way of dollar bears who hope for a more drastic drop that would correlate to the gold/oil prices.
When investors wake up in xx months (place your bets here; I'm thinking early Autumn) and find that the world has not ended, both oil and gold will drop. The dollar probably won't change much either way.