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daily · indexed (100 = shared start)

Stocks, gold and commodities vs the dollar

How do equities, gold and commodities move against a rising or falling dollar?

Gold − dollar+33.1%
Data through 23 Jul 2026
-200.00.00200.0400.0600.0800.01,000Mar 2007Jan 2011Nov 2014Oct 2018Aug 2022Jul 2026
Stocks (SPY)
Gold (GLD)
Commodities (DBC)
US Dollar Index (UUP)
Stocks, gold and commodities vs the dollar: summary statistics (Max range)
SeriesFirstLatestMinMax
Stocks (SPY)100.0751.250.6771.0
Gold (GLD)100.0564.495.6753.4
Commodities (DBC)100.0149.144.9190.1
US Dollar Index (UUP)100.0139.085.1140.5
Source:Yahoo FinanceSPYGLDDBCUUP· Data may be revised by the source.
FormulaSPY, GLD, DBC, UUP adjusted close indexed to 100 at the shared start
Methodology

SPY (equities), GLD (gold) and DBC (broad commodities) versus UUP (Invesco DB US Dollar Index, an ETF proxy for the ICE dollar index), all daily, rebased to 100 at their shared start. Uses split- and dividend-adjusted close. Because gold and commodities are priced in dollars, a rising UUP line tends to weigh on them; the chart makes that linkage visible. UUP is the ETF wrapper rather than the raw index (DX-Y.NYB) so it has a clean tradable, adjusted close.

Source series
SPYStocks (SPY)indexed (100 at base)daily · Not seasonally adjustedGLDGold (GLD)indexed (100 at base)daily · Not seasonally adjustedDBCCommodities (DBC)indexed (100 at base)daily · Not seasonally adjustedUUPUS Dollar Index (UUP)indexed (100 at base)daily · Not seasonally adjusted
Freshness
Data through
23 Jul 2026
Last refreshed
24 Jul 2026
Native frequency
daily

The site is refreshed separately from the source. Data through = the latest observation published by Yahoo Finance; last refreshed = when PIER20 last fetched the file.

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PIER20 provides research software and does not provide investment advice or make investment recommendations. PIER20 is not authorised or regulated by the Financial Conduct Authority. Nothing on this website should be relied upon as investment advice or a recommendation to buy or sell any financial instrument.

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