FX.co ★ Gold Rises to Over 1-Week High

Gold prices surpassed $5,010 per ounce on Monday, marking their highest level in over a week. This rise comes as investors closely monitor crucial US economic data that could provide clearer insights into the Federal Reserve's stance on interest rates. Key indicators include the January jobs report, expected on Wednesday, which may reveal signs of labor market stabilization, along with inflation figures due on Friday. Gold also found support amid political developments in Japan, where Prime Minister Sanae Takaichi's landslide victory reinforced expectations of looser fiscal policies and sustained pressure on the yen. Additionally, central bank demand remains robust, with China's central bank continuing its gold acquisitions for the 15th consecutive month in January. In terms of geopolitics, last Friday's discussions between the US and Iran concluded with an agreement to pursue further talks this week, alleviating concerns over possible military conflicts in the region.