Gold tops $5,000, silver jumps over 6%

April gold futures gained 1.65% to $5,062.1 an ounce

Gold and silver futures rose on Monday as markets awaited key US economic data later this week to gauge the outlook for monetary policy.

April gold futures gained 1.65%, or $81.2, to $5,062.1 an ounce.

Spot gold rose 1.4% to $5,034.27 an ounce, while spot silver surged about 5.65% to $82.23 an ounce.

The dollar index, which measures the US currency against a basket of six major currencies, dipped slightly by 0.1% to 97.52 at 8:59 a.m. Mecca time.

March silver futures jumped 6.35% to $81.87 an ounce. Meanwhile, spot platinum remained steady at $2,101.12, and palladium added about 1.35% to $1,732.73 an ounce.

US retail sales data are set for release on Tuesday, a day ahead of the monthly jobs report and unemployment rate, with the week ending on the release of the consumer price index.