Gold prices surged above $5,000 an ounce on Monday, driven by a weaker dollar and escalating tensions between Tehran and Washington. Spot gold jumped 1.3 percent to $5,025.14 an ounce, with U.S. gold futures also up 1.3 percent at $5,045.71. Chinese regulators reportedly urged banks to reduce holdings of U.S. government debt, leading to a slip in the dollar index and Treasuries. The delayed U.S. January jobs report will be released on Wednesday, with expectations of a gain of 55,000 jobs and a steady unemployment rate of 4.4 percent. Retail sales and consumer price index reports are also scheduled for this week.

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