Relationship Between Gold and USDCHF:
Switzerland also has a strong interest in gold, as 25% of their currency reserves are stored in gold. Because of their gold stores, the Swiss franc increases in value. Remember, the AUD/USD pair correlates positively with gold, while the USD/CHF pair correlates negatively with gold. In both cases, the USD is getting weaker, but in the USD/CHF pair, the USD is the base currency. When the Swiss franc gains strength, the USD/CHF pair declines.