The yen and dollar rose on Tuesday as fears of further U.S. bank failures overshadowed unexpectedly strong U.S. manufacturing data, boosting the two currencies’ safe-haven appeal.

Gold eased on Wednesday, giving up earlier gains, as the dollar recovered losses against the euro after U.S. durable goods data failed to impress, tempering appetite for the metal as an alternative asset.

Good day… And a Marvelous Monday to you! Hereeeeeee’s Baaaaaacccckkkkk… Oh no! Just when you thought it was safe to open the Daily Pfennig and not get lectured on deficit spending… He’s back! Oh well, It’s been over two weeks, first to Vancouver, then on vacation.

Mixed bag of housing numbers…  Foundation work…  High yielders…  Commodity currencies again … And Now… Today’s Pfennig!

Risk Aversion returns…  Money Multiplier dampens stimulus effects…  TIC flows show concern of foreign investors… China back on growth track… And Now… Today’s Pfennig!

Gold firmed today, Thursday, as weakness in the dollar prompted interest in the precious metal as a currency hedge, with some physical demand after the previous session’s fall also supported prices.

Gold steadied today,  Tuesday, erasing earlier gains, as the dollar recovered lost ground against a basket of currencies, reducing the precious metal’s appeal as an alternative asset.

Gold rose above $942 per ounce on Monday, strengthening as the dollar turned lower against six major currencies with slight caution toward riskier assets also proving supportive.

Gold steadied today as the dollar index reversed earlier losses, but trading was muted as the U.S. currency remained hemmed into ranges ahead of a Federal Reserve meeting next week.

Russia’s Fin Min talks up the dollar!  Currencies, commodities, stocks all lose ground…  Who’s car is uglier … Gold hit a 3-week low… And Now… Today’s Pfennig!