Why is gold losing its lustre?

Gold prices are falling for 2 fundamental reasons.  First is the appreciation of USD.  As USD rises, it gets more expensive to buy gold because gold is priced in USD in international market.  Investors will get lesser gold for the same amount of USD.  The 2nd reason is the rise in interest rate.  As gold is a zero interest yielding asset, it will lose its favour once other assets have higher yielding powers.  Gold is favoured in negative interest and low USD environment compared to other assets.