BNP Paribas weighs on the euro…  China and Treasuries…  Euro forming a base?  Gold continues its rally… And Now… Today’s Pfennig!

The currency markets reaction to the Federal Reserve’s recent interest rate cuts has ignited a rally in gold, as investors weigh the benefits of owning the yellow metal versus U.S. Treasuries and the dollar.

Does This Correction Look Familiar? Major developments are taking place in the precious metals world. As we have noted here in Penny Sleuth, the price of gold is destined for upwards of $2,000. However, we are currently experiencing a very natural correction.

As Wall Street continues to put their faith in the “goldilocks” hypothesis, it may come as a surprise to those familiar with my more negative view that I too fully expect this scenario to unfold.