Business
Gold holds near record peak as trade jitters buoy safe-haven demand
Gold prices eased on Thursday as the dollar regained some ground, although concerns over the U.S.-China trade war kept the safe-haven bullion close to a record high level hit in the previous session.
Spot gold was 0.4% lower at $2,854.39 per ounce by 0802 GMT, after hitting an all-time peak of $2,882.16 in the previous session, Reuters reported.
U.S. gold futures shed 0.6% to $2,875.
The dollar index , which measures the greenback against six major rivals, was up 0.2%.
“Investors are trying not to miss this rally as they place their position because they are happy with the returns. That’s the reason why it’s (gold) hitting successive highs,” said Soni Kumari, a commodity strategist at ANZ.
“Bullion could hit the $3,000 level soon … However, what could make the market consolidate will be some clarity on trade ties or easing trade tensions.”
On Wednesday, China filed a World Trade Organization complaint against U.S. President Donald Trump’s new 10% tariff on Chinese imports.
A trade war between the world’s two largest economies could weigh on global growth and drive up inflation, benefiting the bullion further as it is considered a safe investment during economic and geopolitical turmoil.
“The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand,” Citi said in a note.
“Global growth concerns are also set to raise ETF and over-the-counter investment demand.”
U.S. Federal Reserve officials also pointed to the large policy uncertainty around tariffs and issues arising from the early days of Trump’s administration as among the top challenges in figuring out where to take the monetary policy in the months ahead.
Market focus is now on U.S. weekly jobless claims data, due at 1330 GMT, and the non-farm payrolls report on Friday, which could offer insights into the economy’s overall strength.
Spot silver dropped 1.3% to $31.91 per ounce, and palladium fell 0.4% to $985.48. Platinum gained 0.2% to $981.74.
Business
Russia eyes trans-Afghan railway to expand regional trade corridors
Uzbekistan, which already has a direct rail connection with Afghanistan, has positioned itself as a regional logistics hub linking Russia, Central Asia and South Asia.
Russia has expressed strong interest in constructing a railway through Afghanistan as part of broader efforts to strengthen transport and trade links with countries in the Global South, Russian Deputy Prime Minister Alexei Overchuk said.
Speaking to Russia 24 television, Overchuk noted that expanding connectivity with southern markets would help diversify Russia’s transport and logistics routes. He said various options for building a railway across Afghan territory are currently under discussion, with a focus on both western and eastern corridors.
Overchuk added that Russian specialists are actively studying the feasibility of the project and are involved in technical consultations related to the proposed railway.
His remarks follow earlier statements by Russian Industry and Trade Minister Denis Manturov, who said last year that Russia and Uzbekistan were jointly preparing a feasibility study for the Trans-Afghan railway, aimed at developing international transport corridors.
Subsequently, the transport ministers of Russia and Uzbekistan signed agreements to move into the development phase of the Trans-Afghan railway project, which is expected to extend southward to Pakistan.
Uzbekistan, which already has a direct rail connection with Afghanistan, has positioned itself as a regional logistics hub linking Russia, Central Asia and South Asia.
In November 2024, during a visit to Kabul, Overchuk told officials of the Islamic Emirate that Moscow was keen to participate in the Trans-Afghan railway project, describing it as a key initiative to enhance connectivity across Central Asia and the broader Eurasian region.
Business
Pakistan’s kinno exports falter as tensions with Afghanistan continue
Pakistan’s kinno exports remain far below potential as regional tensions, high freight costs and weak government support continue to choke the citrus trade.
Despite being a leading global citrus producer, Pakistan is expected to export just 400,000–450,000 tonnes of kinno in the 2025–26 season, compared with an estimated capacity of 700,000–800,000 tonnes.
Exports in 2024–25 stood at around 350,000–400,000 tonnes, mainly to Russia, the UAE, Saudi Arabia, Afghanistan, Indonesia and Central Asia. While better fruit quality this season has raised hopes, persistent crossing disruptions—especially with Afghanistan—and transport bottlenecks have offset gains.
Growers say prices have collapsed sharply, forcing panic sales. Rates for large kinno have fallen from over Rs120 per kg early in the season to as low as Rs75, while smaller fruit is selling for Rs35–40 per kg amid weak demand.
Industry leaders warn the crisis is crippling processing units and jobs. More than 100 factories reportedly failed to open this season, with dozens more shutting down as exports stall. Cold storages in Sargodha are nearly full, putting fruit worth millions of dollars at risk of spoilage, while growers fear losses of up to Rs10 billion.
Exporters are urging the government to urgently resolve issues, subsidise logistics, and help access alternative markets, warning that prolonged inaction could devastate farmers, workers and the wider economy.
Business
Pezeshkian pledges to facilitate Iran-Afghanistan trade
Iranian President Masoud Pezeshkian has said that Tehran will facilitate trade and economic exchanges with Afghanistan, including easing procedures at customs and local marketplaces.
He made the remarks during a televised interview following his visit to South Khorasan province, which shares a border with Afghanistan.
Pezeshkian, in a separate event addressing local business leaders, highlighted the province’s strategic advantages, citing its rich mineral resources, proximity to neighboring countries such as Afghanistan and Pakistan, and access to the ocean via the Chabahar port. He described the region as “a golden opportunity not found everywhere,” emphasizing its potential for economic growth and cross-border commerce.
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