Gold prices surge past five thousand dollars as dollar weakens ahead of US jobs report

Gold prices rose above $5,000 on Monday as a weaker dollar and bargain hunting supported the metal. Investors are now awaiting key U.S. payrolls data for clues.

Gold prices in the US USUS and the broader precious metals sector extended gains on Monday, with spot gold trading just above the $5,000 per ounce threshold. This upward movement follows a significant 4% gain recorded on Friday and coincides with a dip in the U.S. USUS dollar, which recently reached its lowest level since Feb. 4.
A sign advertising ‘We Buy Gold’ hangs inside a jewelry store in the Diamond District of New York City, U.S., on February 5, 2026, as gold prices fell and silver dropped over 15% due to a stronger dollar and easing geopolitical tensions. REUTERS/Shannon Stapleton
A sign advertising ‘We Buy Gold’ hangs inside a jewelry store in the Diamond District of New York City, U.S., on February 5, 2026, as gold prices fell and silver dropped over 15% due to a stronger dollar and easing geopolitical tensions. REUTERS/Shannon Stapleton
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