Gold prices rose on Tuesday, within recovery attempts from a 9-month low hit earlier, to consolidate above the $1,700/ounce psychological threshold, but these recovery attempts are being curbed by rising US dollar and the high yield of US 10-year Treasury bonds.

Gold prices rose 0.5% to $1,733.42 an ounce, after opening at $1,724.90, and hit a day low at $1,707.39.

The yellow metal closed lower by 0.5% yesterday, in its fifth straight daily loss.

Gold lost more than 7.5% during February, posting the second consecutive monthly loss, and the largest monthly loss since November 2016 after the US Treasury yields rallied.

The dollar index rose more than 0.4% today, and hit a 4-week high of 91.39 points.

The yield of the US 10-year Treasury rose 2.2% today, extending its gains for the second straight day and hit a 1-year high.

This surge in the US Treasury bond yields led investors to shun riskier assets, amid rising bets the US Fed would scale back monetary policy easing programs to counter the rising inflation.

European stocks rose on Tuesday, extending their recovery from a 3-week low for the second straight session, following strong gains in Wall Street, but the US bond market remains in the spotlight.

The Stoxx Europe 600 index rose 0.5% as of 11:55 GMT, after it closed higher by 1.8% yesterday, after hitting on Friday a 3-week low at 404 points.

The construction sector saw the largest gains in Europe today, rising around 1.1%, as most of the sector's companies recovered.

S&P 500 futures fell more than 0.3%, after the index closed higher by 2.4% after the US House of Representatives passed a $1.9 trillion fiscal stimulus package.

The yield of the US 10-year Treasury rose 2.2% today, extending its gains for the second straight day and hit a 1-year high.

Back to Europe, the Euro Stoxx 50 index rose 0.5%, France's CAC 40 rose 0.6%, and Germany DAX index rose 0.5%, the UK's FTSE 100 rose 0.7%.

Oil prices rose on Tuesday, and rebounded from a 1-week low, thanks to hopes about the a recovery in global demand as Covid-19 vaccination accelerates around the world, but today's gains are being ebbed by growing odds that the OPEC-Plus collation might agree this week to increase output during April.

US crude rose more than 1.0% to $60.84 a barrel, after opening at $60.22, and hit a low and the lowest since February 22 at $63.84, and Brent crude rose nearly 1.0% to $63.84 a barrel, after opening at $63.22, and hit a low of $62.54.

US crude lost 2.1% on Monday, and Brent crude futures fell 1.9%, in their third straight daily loss.

Oil prices are lifted by hopes about the a recovery in global demand as Covid-19 vaccination accelerates around the world.

The US Food and Drug Administration (FDA) approved on Saturday the emergency use of the Johnson & Johnson's Covid-19 vaccine, making it the third vaccine that will be widely used in the US.

This vaccine is taken in only a single dose, and can be stored in normal cold temperatures, which makes it easier for distribution in most parts of the world.

US officials said that initial shipments have already started on Sunday, and Johnson & Johnson expects to ship more than 20 million doses by March 30 and 100 million doses by the middle of this year.

The OPEC-Plus Joint Ministerial Committee will meet on Wednesday to review the global output cut agreement and the latest developments in the global scene, amid growing odds that the collation might agree to increase output during April due to an expected supply deficit during the first quarter of 2021.

Euro fell in European trade on Tuesday for the third straight session against dollar, marking four-week lows ahead of inflation data. 

EUR/USD fell 0.5% to 1.1991, the lowest since February 5, after closing down 0.2% yesterday. 

The dollar index rose 0.4% on Monday for the third straight session, marking four-week highs at 91.39. 

US 10-year treasury yields rose to 0.75% for another day, nearing a year high. 

The spike in treasury yields hurt sentiment and accelerated selling pressures in global stocks. 

Investors await European data today on inflation, which could bolster the common currency against rivals. 

The euro zone's consumer prices are expected up 1%, improving from 0.9% in January.