Gold set for best week in 9 as dollar softens ahead of US data

Bullion has climbed nearly 2 percent so far this week, set for its best weekly gain since early December. Shutterstock
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Updated 02 February 2024
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Gold set for best week in 9 as dollar softens ahead of US data

LONDON: Gold prices were poised for their biggest weekly gain in nine weeks on Friday as the dollar and Treasury yields retreated, while traders awaited key US jobs data due later in the day for clues on when the Federal Reserve could start rate cuts, according to Reuters.

Spot gold was steady at $2,055.59 per ounce by 11:03 a.m. Saudi time. Bullion has climbed nearly 2 percent so far this week, set for its best weekly gain since early December.

US gold futures edged 0.1 percent higher to $2,072.70.

“Fed is unlikely to cut rates in March, but market participants are sure that its going to start cutting rates after that ... the remarks were bullish for gold,” Brian Lan at Singapore-based dealer GoldSilver Central said.

Lower interest rates boost non-yielding bullion’s appeal.

Spot gold rose nearly 1 percent on Thursday after data from the US Labor Department showed initial jobless claims rose more than expected last week.

A separate report showed that US worker productivity grew faster than expected in the fourth quarter.

Investor focus will shift to US non-farm payrolls data due at 4:30 p.m. Saudi time.

Concerns over the regional banking sector in the US, increased the appeal for safe-haven assets such as bullion and Treasury bonds.

Yields on benchmark 10-year Treasury notes, which are inversely related to bond prices, languished near their lowest levels seen in 2024.

The dollar index has dropped 0.4 percent so far this week.

Fed Chair Jerome Powell pushed back on the idea of an interest rate cut in the spring, but expressed confidence in inflation moving toward the desired 2 percent range.

Money market pricing shows traders are nothing but sure about a rate cut in May.

Other precious metals were also trading flat, with spot silver at $23.18 per ounce, platinum at $913.18, and palladium at $962.50.


Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

A Harvard sign is seen at the Harvard University campus in Boston, Massachusetts, on May 27, 2025. (AFP)
Updated 10 February 2026
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Saudi Arabia leads outcome-based education to prepare future-ready generations: Harvard Business Review

  • The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts

RIYADH: Saudi Arabia’s education system is undergoing a sweeping transformation aligned with Vision 2030, shifting from traditional, input-focused methods to outcome-based education designed to equip students with future-ready skills, Harvard Business Review Arabic reported.

The transformation is being adopted and spearheaded by institutions such as Al-Nobala Private Schools, which introduced the Kingdom’s first national “learning outcomes framework,” aimed at preparing a generation of leaders and innovators for an AI-driven future, the report said.

Al-Nobala has leveraged international expertise to localize advanced learning methodologies.

The Riyadh-based school group developed a strategy that links every classroom activity to measurable student competencies, aiming to graduate learners equipped for the digital economy and real-world contexts. The school’s group approach combines traditional values with 21st-century skills such as critical thinking, communication, innovation and digital fluency.

According to the report, the shift addresses the growing gap between outdated models built for low-tech, resource-constrained environments and today’s dynamic world, where learners must navigate real-time information, virtual platforms, and smart technologies.

“This is not just about teaching content, it’s about creating impact,” the report noted, citing how Al-Nobala’s model prepares students to thrive in an AI-driven world while aligning with national priorities.

The report noted that Saudi Arabia’s Ministry of Education has paved the way for this shift by transitioning from a centralized controller to a strategic enabler, allowing schools such as Al-Nobala to tailor their curriculum to meet evolving market and societal needs. This is part of the long-term goal to place the Kingdom among the top 20 global education systems.

Al-Nobala’s work, the report stated, has succeeded in serving the broader national effort to link education outcomes directly to labor market demands, helping to fulfill the Vision 2030 pillar of building a vibrant society with a thriving economy driven by knowledge and innovation.

Last February, Yousef bin Abdullah Al-Benyan, Saudi Arabia’s minister of education, said that the Kingdom was making “an unprecedented investment in education,” with spending aligned to the needs of growth and development. He said that in 2025, education received the second-largest share of the state budget, totaling $53.5 billion.