Gold Surges Above $5,000 as Dip-Buyers Return Amid Market Volatility

• Spot gold climbed 1.7% to $5,028.77 an ounce, with silver also rising, as dip-buyers re-entered the market after a volatile week.
• Japanese Prime Minister Sanae Takaichi's election victory reinforced expectations for looser fiscal policy and a weaker yen, supporting bullion.
• Despite a recent crash from all-time highs, gold is still up 15% for the year, recovering half its losses from a historic rout.
• Long-term demand drivers, including geopolitical tensions, debasement trade, and sustained Chinese central bank purchases, are backing gold's recovery.
• Traders await US economic data, including the January jobs report and inflation data, for clarity on the Federal Reserve's policy direction.