Spot gold prices ​rose to hover around the $5,000-per-ounce mark on Monday, supported by a weaker dollar, as a slate of U.S. economic ⁠reports scheduled for this week brought investors' focus back to the trajectory of interest rates.

Spot gold rose 1% to $5,008.51 ⁠per ounce ‌by 1141 GMT after a 4% climb on Friday. U.S. gold futures for April delivery also gained 1% to $5,029.40 per ounce.

"Gold reclaims its historical role as a neutral sovereign asset, ⁠which in my view explains the strong surge in demand for it, especially amid a clear decline in appetite for holding the US dollar as a safe haven," said Rania Gule, senior market analyst at XS.com.

The U.S. dollar fell 0.3%, making greenback-priced bullion cheaper for overseas buyers.

Investors are eyeing ⁠this week’s releases of January ​nonfarm payrolls, CPI and initial jobless claims for fresh monetary policy signals, with markets already pricing in at least two 25-basis-point rate cuts ‍for 2026.

Lower interest rates tend to support gold as they reduce the opportunity cost of holding the non-yielding asset. San Francisco Federal ​Reserve Bank President Mary Daly said on Friday she thinks the U.S. labor market is in a "precarious" position, and that further interest-rate cuts may be needed. Meanwhile, China's central bank extended its gold buying spree for a 15th month in January, data from the People's Bank of China showed on Saturday.

This "reflects a clear strategy aimed at diversifying reserves away from the US dollar and reducing exposure to geopolitical and financial risks associated with it," Gule added.

Spot silver climbed 2.4% to $79.87 per ounce after a near 10% gain in the previous session. It hit an all-time high of $121.64 on January 29.

"Silver is more of a risk asset than ⁠gold... when risk appetite is strong, you tend to see silver ‌outperform gold," said Fawad Razaqzada, market analyst at City Index and FOREX.com. Spot platinum was down 1.4% at $2,066.17 per ounce, while palladium lost 0.9% to $1,691.45.

"A slowdown in EV sales hasn't really materialized despite all the policy ‌softening, so I ⁠do see that platinum, and palladium will possibly slow down," after a bearish run in 2025, said WisdomTree commodities ⁠strategist Nitesh Shah.