According to The Kobeissi Letter, the US Dollar Index ($DXY) has reached a new 52-week low, declining by nearly 10% since the onset of the trade war. This significant drop in dollar value has made USD-denominated gold more affordable for foreign investors, resulting in increased gold demand and price action. Traders should note that gold is serving as a leading indicator for tariff impacts, with its price movements closely tracking currency fluctuations and trade policy developments (source: @KobeissiLetter, May 5, 2025).