top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen


18 Mar 2022

Gold Approaches Worst Week since November as Dollar Steadies

The Index Today

Gold is set to perform its worst since November of last year on account of the dollar firming amid Fed interest rate hikes and the ongoing diplomatic discussions between Ukraine and Russia that have dampened investors’ ardor for safe haven assets.

According to Reuters, spot gold fell by 0.5% to $1,932.20 per ounce at 1002 GMT, while the U.S. gold futures plummeted by 0.5% to $1,933.10.

OANDA’s Senior Market Analyst Craig Erlam contended that gold and the dollar “are very choppy, headline-driven markets so we could see plenty more action throughout the day in both directions." He, however, added, "Gold will remain well supported. We could increasingly see dips being bought into as the demand for safe havens and inflation hedges remains strong."

Although gold dropped by 2.7% this week, Fed-sanctioned interest rates have since helped it achieve a marginal bounce back. Spot palladium gained 2.3% to $2,567.02 per ounce but will likely shed 8.8% weekly over retreating fears of potential supply disruptions from Russia, its top producer. Platinum climbed 1.5% to $1,036.53 as silver dipped by 0.4%.

Clay pottery with table linens
bottom of page