US dollar index (DXY) vs Gold: which is stronger each month?
US dollar index (DXY) has been strongest in January (+0.90%) and weakest in December (-0.88%). Gold has been strongest in January (+2.95%) and weakest in June (-0.87%). DXY had the higher average in 3 of 12 months, and the two pointed the same way in 6 of 12.
Month by month
| Month | DXY average | DXY up years | Gold average | Gold up years | Stronger |
|---|---|---|---|---|---|
| January | +0.90% | 62% | +2.95% | 65% | Gold |
| February | -0.07% | 52% | +1.23% | 58% | Gold |
| March | +0.22% | 52% | +0.21% | 46% | DXY |
| April | -0.38% | 43% | +1.28% | 62% | Gold |
| May | +0.51% | 57% | +0.27% | 50% | DXY |
| June | -0.14% | 45% | -0.87% | 42% | DXY |
| July | -0.19% | 48% | +0.93% | 58% | Gold |
| August | +0.16% | 49% | +2.50% | 73% | Gold |
| September | -0.28% | 45% | +0.43% | 48% | Gold |
| October | -0.01% | 45% | +0.13% | 50% | Gold |
| November | +0.21% | 53% | +1.33% | 58% | Gold |
| December | -0.88% | 36% | +1.45% | 65% | Gold |
US dollar index (DXY) since 1971, Gold since 2000, monthly close to close, as of October 16, 2026. The highlighted row is the current month. Monthly correlation over the last 16 years: -0.48.
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Questions
What is the best month for US dollar index (DXY)?
Since 1972, January has averaged +0.90% for US dollar index (DXY), higher in 62% of 55 years.
What is the best month for Gold?
Since 2001, January has averaged +2.95% for Gold, higher in 65% of 26 years.
Do US dollar index (DXY) and Gold move together?
Over the last 16 years their monthly moves had a correlation of -0.48, where 1 means they always move together and 0 means no link.
History describes the past. Not investment advice.
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Not investment advice. Market Seasonality publishes historical statistics, news summaries and scenario analysis for information and education. Past patterns do not guarantee future results. Nothing here is a recommendation to buy, sell or hold any asset, and scenarios describe possible paths without predicting them. See the disclaimer and methodology.