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Gold eases as healthy US payrolls bolster rate-hike bets

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As market participants awaited important U.S. inflation prints due later this week for additional clarity on the Federal Reserve’s policy path, good U.S. jobs data bolstered expectations for higher interest rates, causing gold prices to slightly decline on Monday.

After declining 1% on Friday, spot gold was down 0.5% at $4,405.47 per ounce as of 0211 GMT.

At $4,452.20, U.S. gold futures for December delivery were down 0.5%.

According to data released on Friday, U.S. job growth surged significantly in August while the unemployment rate remained stable at 4.1%. This suggests that the labor market is improving after recent difficulties and that a rate increase this month is still possible.

The consumer price index (CPI) and producer price index (PPI) for the United States are due on Friday and Thursday, respectively.Although the jobs report was a definite positive surprise and put some pressure on the metal, a September rate hike was not a given. According to Tim Waterer, chief market analyst at KCM Trade, “the real missing piece of the puzzle arrives this week with U.S. CPI.”A high inflation report would increase the likelihood of a Fed move, raise rates even more, and put further pressure on gold.

According to CME’s FedWatch tool, traders are pricing in a 58.4% chance of a rate hike at the Fed’s September 15–16 meeting.

Higher interest rates tend to make non-yielding bullion less appealing, even though gold is generally seen as an inflation hedge.

U.S. President Donald Trump declared on Friday that he would cease dealing with nations where the United States had a deficit unless the Federal Reserve lowered interest rates.

Regarding the Middle East, a senior Iranian official warned of a “painful response” in the event of additional attacks, while Iran stated it will intensify efforts to address issues brought on by U.S. sanctions that are severely damaging its economy.

Among other metals, platinum dropped 0.8% to $1,805.53, palladium fell 0.7% to $1,396.08, while spot silver dipped 0.2% to $66.03 per ounce.

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Pakistan to assume CAREC chairmanship in 2027, host 26th Ministerial Conference

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Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal claimed that Pakistan would assume the presidency of the Central Asia Regional Economic Cooperation (CAREC) Program in 2027 and host the 26th CAREC Ministerial Conference,

Speaking at the 25th CAREC Ministerial Conference in Ulaanbaatar, Mongolia, Iqbal urged for CAREC transport routes to be turned into next-generation economic corridors by integrating infrastructure, logistics, digital connection, energy cooperation and climate resilience.

The 25th ministerial conference is taking place in Ulaanbaatar from September 29 to October 2.

“CAREC Corridors 5 and 6 offer Pakistan an opportunity to link Central Asian markets to the Arabian Sea and boost more economic activity along the routes,” Iqbal remarked.

“Rather than just allowing trucks to go through the corridors, the emphasis should be on allowing businesses to use the corridors reliably, competitively and profitably,” he said.

This will entail upgrading the CAREC highways, modernizing border facilities at Torkham and Chaman, enhancing rail freight capacity with the proposed ML-1 expansion and improving the connectivity with dry ports and seaports, added the minister.

Iqbal highlighted the need for a digital corridor across the CAREC region and said Pakistan’s Single Window system could be a basis for incremental digital integration with regional partners.

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Four people including a child rescued from chairlift in Kalam

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Shau district of Kalam in Upper Swat: Four persons including two ladies and a child were successfully rescued from a chairlift, Rescue 1122 and other relevant department teams reached the area with rescue equipment as soon as they got the report and concluded the rescue operation.

Residents also joined the rescue operation, with heavy machinery from the Upper Swat Development Authority, cranes, police and the district government participating.

Assistant Commissioner Kalam was the supervisor of the rescue operation.

Earlier in December 2025, four persons including a mother and a child were stranded in a chairlift (doli) in the Bahrain area of Swat River.

“The family was crossing the river when the chairlift suddenly stopped in the middle of the stream due to a technical fault,” a representative of Rescue 1122 said.

Rescue teams arrived and evacuated all four people safely.

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Saudi Cabinet reviews progress on Makkah defence agreement with Pakistan, Türkiye

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Under the chairmanship of Crown Prince Mohammed bin Salman, Saudi Arabia’s Cabinet evaluated the progress made in establishing the secretariat of the Makkah Joint Defense Agreement. Riyadh, Islamabad and Ankara are continuing their efforts to bolster defense cooperation. The Cabinet also reviewed developments in defense cooperation between Saudi Arabia, Pakistan and Turkey, as well as regional and international security issues.

The three countries signed the Makkah Joint Defense Agreement in August, pledging to work more closely together on collective security and defense. The pact specifies that an armed attack against any of the three is to be treated as an attack against all three.

The latest Cabinet discussions followed a meeting on Friday in Riyadh of the defense chiefs and chiefs of general staff of Saudi Arabia, Pakistan and Türkiye.

The military commanders examined dangers facing Saudi Arabia and discussed measures to enhance intelligence sharing, military coordination, and integration of defense capabilities.

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