This paper analyses the impact of US Dollar exchange rate on gold and crude oil prices, using the data series for the period 1991-2014. The rapid rise in gold and crude oil prices has been became a burden on the poor and developing countries, including India, who spend roughly half of their household incomes on their derivative products. In many countries and regions, gold and crude oil price inflation is higher than aggregate inflation and contributing to underlying inflationary pressures. The investors always look for the various investment avenues which increase their risk-adjusted returns and add diversification. Since ages, gold is preferred as the one of the major investment option especially by the Indian investors. The prices of the gold are fluctuating and are affected by the various factors. In this paper we tried to know relationship of the US Dollar with gold and crude oil prices with the help of econometric regression model. The result indicated the significant impact of dollar fluctuation on gold and crude oil prices