Institution: Gold price returns to the $5,000 mark as market awaits key US data this week

Institutional analysis indicates that, influenced by a weakening US dollar and traders awaiting the release of key US data later this week, the gold price has rebounded above $5,000 per ounce. Analysts at ANZ Bank stated, "Investors have reaffirmed their long-term bullish outlook on precious metals." Research institution data shows that despite recent sell-offs, large institutional investors remain optimistic about gold. The People's Bank of China has also maintained this view, having increased its gold reserves for the 15th consecutive month in January. Traders are now awaiting US non-farm payroll data and the consumer price index for further clues regarding the interest rate cut trajectory.