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


4 Nov 2021

Gold Rising Up from a Three-Week Low as Fed Begins Tapering

The Index Today

On Thursday morning in Asia, Gold was up rising back from a three-week low. Investors took in the latest policy decision from a “patient” U.S. Federal Reserve that will begin asset tapering beginning this month.

Gold futures gained 0.68% to $1,775.95 by 11:44 PM ET (3:44 AM GMT). The dollar, which normally moves inversely to gold, edged up on Thursday.

The Fed handed down its decision yesterday on Wednesday, with Fed Chairman Jerome Powell indicating that interest rate hikes will not come anytime soon. However, he added that “we think we can be patient. If a response is called for, we will not hesitate.”

Although the Fed maintained its view that inflation is temporary, the smooth start to the central bank’s asset tapering program gave global shares a boost.
Investors now await the Bank of England (BOE)’s policy decision, due later in the day. BOE is expected to either hike interest rates from an all-time low or to wait for the post-lockdown economy to be ready for such a move.

Clay pottery with table linens
bottom of page