Following a week of significant volatility in the precious metals market, bargain hunters have returned, driving gold prices above $5,000 per ounce. Gold gained as much as 1.6% during the morning session, with an additional boost from Japanese Prime Minister Sanae Takaichi's decisive victory in the lower house election. This outcome has reinforced market expectations for more accommodative fiscal policies and continued pressure on the Japanese yen, factors that typically benefit gold. Despite pulling back approximately 11% from the record high set on January 29 by last Friday's close, gold has still accumulated a 15% gain for the year. Traders are also monitoring upcoming U.S. economic data for clearer signals on the Federal Reserve's policy direction. The January jobs report, due Wednesday, is anticipated to show signs of stabilization in the labor market, while inflation figures will be released on Friday. As of 8:20 Singapore time, gold was up 1.4% at $5,034.67 per ounce; silver rose 2.2% to $79.52 per ounce; platinum and palladium also advanced.