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.

Forex

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

Commodities

25 Oct 2021

Gold Climbed Up, Fed taper Still Impending

The Index Today

On Monday morning in Asia, Gold climbed up after losses incurred in the previous session. Fed Chair Jerome Powell’s speech on inflation and asset tapering were among the leading reasons which caused a drop in value.

The USD was down on Monday where Gold Futures moved up 0.16% to $1,799.01. However, it is important to note here that the dollar has improved its position in comparison to its losses in the past month. This has further laid more pressure on gold.

Gold’s value, after reaching its peak since September on Friday started to decline once Powell commented on future asset tapering and possibilities of inflation lasting longer than intended. The subject of raising interest rates is yet to be addressed by the panel.

U.S Treasury Secretary Janet Yellen recently said that inflation was temporary and may return to its normal level by the mid of next year. Investors are also looking forward to policy decision released by other nations including the Bank of Japan, The European Central Bank and more. Silver remained at $24.31 per ounce whereas Platinum inched 0.1% and palladium rose 0.7%.

Clay pottery with table linens
bottom of page