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


27 Oct 2021

Gold Down Amid Growth of U.S. Consumer Confidence Data

The Index Today

Gold prices seen down on Wednesday morning in Asia, while the U.S dollar inched slightly.

Gold Futures went down at 0.28% to $1,788.35 by 11:08 PM ET (3:08 AM GMT). Reduced stimulus and interest rate hikes pushed government bond yields up, translating into a higher opportunity cost for holding bullion, as seen from data report of

Optimistic corporate earnings and less concerns about high inflation also reduced bullion’s safe-haven appeal.

Michael Ashley Schulman chief investment officer at Running Point Capital said, “Traders see this relatively strong earnings and other companies taking advantage of low interest rates to invest in capital expenditure as positive momentum.”

In addition, the U.S. consumer confidence data rise in October as concerns about high inflation were diminished by the optimistic labor market prospects, suggesting that the U.S. economic growth was stepping up.

As for other precious metals, platinum fell 0.7% and palladium went down 0.3%. Silver fell 0.8% to $23.95 per ounce.

Clay pottery with table linens
bottom of page