The dollar pushes back! FOMC plays battleship? Norges Bank meets this week…Precious metals give back too…And Now… Today’s Pfennig!

Good day… And a Marvelous Monday to you! Here we go… Starting a new week all over again… I have a blank page to start each day, and then 2 hours later… The Fabulous Pfennig! A work of art, I must say! HAHAHAHAHAHAHAHA!

Well… Recall on Friday, I said that the non-dollar currencies would probably just follow whatever the stocks did, since the data cupboard was empty? Well, the non-dollar currencies didn’t even follow that theme, as stocks pretty much wallowed around in the mud all day… The dollar began to push back at the gains the other currencies had made during

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Gold slipped on Tuesday, pressured by a rising dollar and a firmer tone on equity markets, but analysts said inflationary concerns would underpin bullion’s safe-haven appeal.

Gold was at $919/921 an ounce at 1242 GMT, down from $937.15 late in New York on Monday, when it fell more than 1 percent as investors moved away from safe-haven investments.

World stocks hit five-week highs on Monday as investors pocketed riskier assets on growing optimism that a U.S. plan to purge toxic assets from the balance sheet of banks could ease the misery of the financial sector.

“Sentiment (on gold) is a bit weaker off a perceived improvement in other forms of asset classes,” said Michael Khosrowpour, an analyst at Triland Metals, pointing to overnight gains in stock markets and gains in the dollar.

The U.S. plan helped boost Japan’s Nikkei average to a 2-1/2 month closing

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By Pham-Duy Nguyen Feb. 27 (Bloomberg) — Gold fell, capping the first weekly loss in three, as the dollar strengthened to the highest level since April 2006, eroding the appeal of the precious metal as an alternative investment. Silver advanced.

The U.S. Dollar Index rose against the currencies of six major trading partners on demand for a haven after the U.S. bailed out Citigroup Inc. for a third time, stoking concerns that the credit crisis and the recession may deepen. U.S. stocks fell for a third straight day and the Reuters/Jefferies CRB Index of 19 commodities dropped as much as 1.9 percent.

“The demand for dollars has outweighed the demand for gold in terms

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The Markets await the Obama economic stimulus and bank rescue plans…  AngloPlat reports higher earnings but flags up cost fears… Johnson Matthey (JMAT) sees 2009 platinum demand declining 5 pct…

This from Reuters, London:

Gold fell nearly 2 percent in Europe on Monday as investors took profits after recent gains, amid disappointment the metal had failed to beat resistance near $930 an ounce last week.

Spot gold slipped to $895.65/897.65 an ounce at 1446 GMT, down from $911.70 in New York late on Friday. Earlier it touched a low of $893.15.

U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange fell $16.30 to $897.60 an ounce.

“There has been some profit taking and disappointment we couldn’t break through $930, even with strong demand from ETFs,” said Commerzbank senior trader Michael Kempinski.

Signs of a recovery in

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U.S. data sparks flight to dollar…  Oil slips, traders fret over demand outlook…  Traders await ECB rate decision on Thursday. Gold fell 1 percent on Wednesday, giving up earlier gains as the dollar firmed against the euro after weaker-than-expected economic data sparked a flight to the relative safety of the U.S. currency.

Trading is expected to be muted ahead of the interest rate announcement of the European Central Bank on Thursday, traders said. The ECB is widely expected to cut rates by 50 basis points.

Spot gold was at $812.00/814.00 an ounce at 1523 GMT, down from $821.05 in New York late on Tuesday. It touched a high of $828.65 earlier in the session, but slipped as the euro retreated and European equities and base metals turned negative.

U.S. gold futures for February delivery on the COMEX division of the New York Mercantile Exchange fell

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Dollar-Euro parity? Crude at $12 a barrel? 15% unemployment? J. Christoph Amberger presents the Today’s Financial News top predictions for 2009…

A month ago, I asked my colleagues at TFN to think about the year ahead… the events that will shape the year both politically and financially. In short, to come up with realistic “Predictions for 2009″. As history is fast-forwarding, some of these events have already taken place. Others look increasingly probable… and not half as far out as they appeared just a month ago.

Here they are, in no particular order

*** Dollar hits parity against euro by June 2009.

*** Oil bottoms at $12 per barrel by April 2009.

*** Gold falls to $500 as Indian economy crashes and Dubai abandons spending spree.

*** Russian troops wearing Gazprom uniforms invade Ukraine to “protect” natural gas pipeline. The Russian stock market collapses. Three European energy stocks soar. (Yes, there’s

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 Gold is another one that’s hard to figure out. Supply is dropping in South Africa and Australia, yet overall mine supply rose 8% to 590 metric tonnes in the second quarter of this year. Demand is surging in India, but prices are plunging today (probably due to a combination of the ever-strengthening U.S. dollar and fund selling).

Where do we go from here? Here are some stories that may lend some insight …

GFMS bullish on gold but cites risk that investor demand could drop

The chief executive of precious metals research firm GFMS said on Monday that bullish macroeconomic factors should keep the price of gold at a high level over the next few years, but a potential decline in investor appetite could also pose a huge downside risk.

SPDR Gold Trust holdings dip more than 10 tons  The SPDR Gold Trust GLD, the

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