Gold prices have surged past $5,000 per ounce as investors re-enter the market following a week of significant volatility. The rise, reaching up to 1.6% in early trading, was bolstered by Japanese Prime Minister Sanae Takaichi's electoral victory, which has heightened expectations of a loose fiscal policy and exerted pressure on the yen, thereby benefiting gold. Despite a recent decline of about 11% from its January 29 peak, gold maintains a 15% gain for the year. Market participants are now focusing on upcoming U.S. economic data, including the January non-farm employment report and inflation figures, to gauge future Federal Reserve policy directions.