$1,055 for Gold! Global recovery prospects fuel run on the dollar…Trichet to defend the dollar today? Central Banks are diversifying…And Now… Today’s Pfennig!

The global economy is in a lull right now. Some expect a recovery sooner, rather than later. Others, like us, think that we could see a second downturn. Either way, there’s one investment you need to own right now: silver.

Yesterday was another exciting day on Wall Street. The Dow rose 131 points…and gold shot up $25 to a new record, $1043.

Pandora’s Box of rate hikes is opened! Is the dollar being removed from oil trades? Deficits do matter, eh? Gold heads toward its all-time high…And Now… Today’s Pfennig!

September job losses soar to 263,000…G-7 does not make statement on currencies…RBA meets tonight…India & Brazil pull the right strings…And Now… Today’s Pfennig!

Currencies rebound VS the dollar…Aussie and kiwi lead the currencies higher…Data and Central Bank speeches today…Gold rebounds back to $1,000! And Now… Today’s Pfennig!

On one hand, the deflationists are claiming that given the extremely high debt levels in the West, further inflation is impossible. On the other side of the argument, many proponents of inflation are calling for Zimbabwe style hyperinflation. In this business, everyone is entitled to their opinion; however it is my contention that we will get neither deflation nor hyperinflation. If my assessment is correct, once business activity picks up, our world will have to deal with high inflation.

So what exactly is the best way to grab profits from the important and often explosive world of commodities?

The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50.

A bias to buy dollars remains…Looks like coordinated jawboning…Fujii now talks about intervening! Gold remains below $1,000…And Now… Today’s Pfennig!