Gold prices dipped on Thursday as the US dollar firmed after stronger-than-expected January jobs data dented expectations for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues.

Spot gold edged 0.3 per cent lower to $5,063.11 per ounce by 04:53 GMT. It closed Wednesday with a more than 1pc gain.

US gold futures for April delivery lost 0.3pc to $5,083.90 per ounce.

“The stronger jobs report leading to a slight pare back in Fed rate-cut expectations may have played a role in gold’s lacklustre move,” said Christopher Wong, a strategist at OCBC.

The US dollar index rose following the surprisingly strong employment report that suggested underlying US economic health.

A stronger dollar makes greenback-priced metals more expensive for other currency holders.

“Sensitivity to the dollar, yield repricing, and uncertainty around Fed policy should continue to pose two-way risks for gold in the interim,” Wong said.

US job growth unexpectedly accelerated in January, and the unemployment rate fell to 4.3pc, though the largest increase in payrolls in 13 months likely exaggerates the labour market’s health, as revisions showed the economy added only 181,000 jobs in 2025 instead of the previously estimated 584,000.

The US budget deficit will grow slightly in fiscal 2026 to $1.853 trillion, the Congressional Budget Office forecast on Wednesday, showing that on balance, President Donald Trump’s economic policies are worsening the country’s fiscal picture amid low economic growth.

The Federal Reserve will keep rates unchanged through Chair Jerome Powell’s term ending in May but cut immediately afterward in June, a Reuters poll showed, with economists warning that policy under his likely successor, Kevin Warsh, could become too loose.

Investors now await the weekly jobless claims report on Thursday and inflation data on Friday for more cues on the Fed’s monetary policy path.

Spot silver fell 0.8pc to $83.32 per ounce, after a 4pc climb on Wednesday.

Spot platinum shed 0.8pc to $2,113.79 per ounce, while palladium rose 0.9pc to $1,715.30.

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ISLAMABAD: Pakistan and Cambodia on Wednesday signed an agreement between their trade promotion organisations (TPOs) at the conclusion of the second meeting of the Joint Trade Committee (JTC).

The agreement was signed by Commerce Minister Jam Kamal and Cambodia’s Minister of Commerce Cham Nimul, who co-chaired the meeting held in the capital.

Mr Kamal said the JTC had served as a structured and effective platform for reviewing progress, addressing challenges, and exploring new avenues for cooperation. While noting encouraging growth in bilateral trade, he underscored the considerable untapped potential in market access, investment and sectoral collaboration.

He reaffirmed Pakistan’s commitment to advancing discussions on a Preferential Trade Agreement (PTA) to improve market access and diversify trade baskets.

During the meeting, Pakistan highlighted the export potential of rice, pharmaceuticals, textiles, and agricultural products, while Cambodia identified opportunities in cassava, cashew nuts, footwear, and rubber products. Both sides agreed to facilitate direct engagement between their business communities to translate these complementarities into tangible trade flows.

The Board of Investment presented opportunities in energy, information technology, tourism and infrastructure, positioning Pakistan as a gateway to Central Asia.

Cambodia, for its part, outlined incentives under its new investment law and Special Economic Zones (SEZs), proposing itself as a strategic production base for Pakistani enterprises seeking access to Asean and Regional Comprehensive Economic Partnership (RCEP) markets.

The two sides agreed to expand cooperation in multiple sectors. In agriculture, they decided to establish a technical working group. In aviation, they agreed to nominate focal persons to advance an Air Services Agreement. They also resolved to exchange focal points for a double taxation avoidance agreement and explore memorandums of understanding in health cooperation.

Other areas of collaboration include standards and conformity assessment, cooperation in the non-bank financial sector, information and communication technology — particularly digital transformation, artificial intelligence and cyber security — as well as labour and vocational training exchanges.

Published in Dawn, February 12th, 2026

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ISLAMABAD: Saudi Arabia has shown interest in investing in corporate farming in Pakistan’s rice sector to ensure a stable, reliable supply of rice through structured, long-term arrangements between the two countries.

The issue came up for discussion in a meeting between Commerce Minister Jam Kamal Khan and Assistant Minister of Investment of Saudi Arabia Ibrahim Al-Mubarak on Wed­nesday. The meeting reviewed and advanced bilateral cooperation in trade, investment, and joint engagement in regional markets.

An official announcement released after the meeting noted that the Saudi side expressed interest in pursuing corporate farming in the rice sector. It was observed that Pakistan already meets the required quality standards, and that investment in corporate-scale farming, mechanisation, storage, and logistics could support steady rice exports to Saudi Arabia. More broadly, discussions on agriculture and food security focused on cooperation in rice, fodder (including alfalfa), meat, and selected agricultural products. Both sides also examined the potential role of Saudi financing institutions in supporting export-linked agricultural and infrastructure projects in Pakistan, particularly those structured around guaranteed offtake arrangements with Saudi Arabia.

Kingdom keen on investing in corporate farming, long-term rice supply

The meeting also reviewed corporate farming and mechanisation as long-term responses to productivity constraints, including in crops such as cotton, where declining yields and high labour input costs have weakened competitiveness.

Mr Kamal observed that export-oriented investment models could help restore agricultural output while strengthening downstream industries, including textiles and yarn.

The meeting reflected strong alignment on pursuing an investment-driven, partnership-based approach to economic cooperation. Both sides underscored the need to enhance competitiveness, expand production capacity, and strengthen value chains to unlock Pakistan’s export potential and respond to growing regional demand in a sustainable, coordinated manner.

A central focus of the discussions was the joint exploration of regional markets, particularly Central Asia, Africa, and ASEAN, which were identified as high-growth regions offering substantial opportunities for collaboration.

Both sides agreed that, by leveraging their respective strengths, Pakistan and Saudi Arabia can position themselves as complementary partners, combining Pakistan’s production capacity with Saudi Arabia’s capital, market access, and regional connectivity.

Human resource development emerged as another key area of collaboration. Both sides agreed that the most pressing shortages across healthcare, hospitality, and services are concentrated among nurses, caregivers, technicians, and mid-level hospitality staff rather than senior professionals.

Mr Al-Mubarak shared Saudi Arabia’s experience in vocational training and skills development. He conveyed openness to replicating the training to deploy models in Pakistan, linking structured training programs with employment opportunities overseas.

Opportunities in building materials and construction inputs were also discussed, with the Saudi side noting substantial import requirements for products such as limestone, marble, aggregates, and other materials not locally available. It was agreed that focused engagement between Pakistani suppliers and Saudi building material trading companies could deliver early outcomes through direct private-sector matchmaking.

Both sides also exchanged views on expanding cooperation in pharmaceuticals, sports goods, footwear, and light manufacturing, recognising Pakistan’s growing industrial base and the scope for joint ventures, contract manufacturing, and split-production models targeting regional and global markets.

Published in Dawn, February 12th, 2026

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