Gold prices rose near $5,000 per ounce on Monday, its highest level in over a week, as investors awaited key US economic data that could offer clearer guidance on the Federal Reserve’s interest rate outlook. The January jobs report due Wednesday, which is expected to show signs of stabilization in the labor market, as well as inflation data set for release on Friday will be closely watched. The precious metal also gained support from political developments in Japan, where a landslide victory for incumbent Prime Minister Sanae Takaichi strengthened expectations of looser fiscal and continued downward pressure on the yen. In addition, demand from central banks remained strong, with China’s central bank extending its gold purchases for a 15th consecutive month in January. On the geopolitical front, attention remains on US-Iran talks, with both sides agreeing to continue discussions this week to ease tensions and avoid a military confrontation.