Gold prices rose on Tuesday, to consolidate above the nine-month low as the US dollar fell against its peers, after the Treasury bond yields declined.

Gold prices rose 1.3% to $1,704.88 an ounce, after opening at $1,683.16, and hit a day high at $1,680.12.

The yellow metal closed lower by 1.1% yesterday, and posted its 9-month low of $1,676.77, due to high US T-bond yields.

Gold prices lost 1.9% during the past week, in the third straight weekly loss, due to high US T-bond yields.

The dollar index fell 0.3% today, on profit-taking from a 4-month high of 92.30 points.

The greenback is being weighed down by improved risk appetite, after the US Treasury bond yields retreated.

The 10-year US Treasury yield fell 4.5%, and pulled back from the 13-month high of 1.622%, to head for the first loss in 5 days.

The US Senate officially passed the $1.9 trillion Covid-19 relief package on Saturday, within the government efforts to provide more fiscal aid to families and small businesses.

US Treasury Secretary Janet Yellen said that President Joe Biden's $1.9 trillion aid package will provide enough resources to fuel a very strong economic recovery.

Gold stocks at the SPDR ETF fell 5.82 metric tonnes yesterday, with the total at the lowest level since April 28, 2020 at 1,063.44 metric tonnes.

Oil prices rose on Tuesday, resuming gains after taking a pause yesterday due to profit-taking from several years highs, while today prices are being lifted by hopes over the US demand after passing a huge Covid-19 relief bill.

US crude rose more than 1.4% to $65.66, after opening at $64.70, and hit a day low of $64.37, and Brent crude rose 1.5% to $68.98, after opening at $67.97, and hit a day low at $67.64.

US crude lost 2.4% yesterday, in its first daily loss in 4 days, after hitting its highest level in two and a half years at $67.94.

Brent futures fell 2.3%, after hitting the highest since May 2019 at $71.36.

Oil prices jumped this week’s trading to several years highs, after the Yemeni Houthi group attacked oil facilities in Saudi Arabia.

The US Senate officially passed the $1.9 trillion Covid-19 relief package on Saturday, within the government efforts to provide more fiscal aid to families and small businesses..

The US House of Representatives will pass the bill later this week, and President Joe Biden will sign it before the current unemployment compensation program expires on March 14.

US Treasury Secretary Janet Yellen said that President Joe Biden's $1.9 trillion aid package will provide enough resources to fuel a very strong economic recovery.

Asian stock indices opened the second session of the week mixed with Chinese stocks in particular mixed, while Japan, Australia, New Zealand, and Hong Kong gained ground, as South Korea declined, following a spate of Asian data and as investors await US House of Representatives' decision on passing the new massive financial rescue bill for the economy. 

From New Zealand, manufacturing sales fell 0.6% in the fourth quarter, compared to a 10.4% surge in the third. 

From Japan, household spending fell 6.1% in January, compared to a 0.6% dip in December, while average income fell 0.8%. 

Japan's GDP growth rose 2.8% in the last fourth quarter, down from 5.3% in the third quarter. 

Bank of Japan's M2 money supply rose 9.6%, up from 9.4% in January, while machine orders surged 36.7% in February.

The US House of Representatives is voting today on the $1.9 trillion financial rescue bill after the Senate passed it last Saturday.  

The Senate passed it 50-49, exactly along party lines, while Treasury Secretary Janet Yellen said that new package will provide enough resources to support the economy in the current crisis but it won't fix the long term inequality problems. 

Japan's TOPEX rose 0.61% to 1,905, while Nikkei 225 gained 0.20% to 28,800. 

China's CSI 300 rose 0.04%, while Shanghai gave up 0.20% to 3,414. 

Hong Kong's Hang Seng rose 1.48% to 28,963, while South Korea's KOSPI declined 0.53% to 2,980. 

New Zealand's NZX 50 rose 0.10%, while Australia's S&P/ASX 200 added 0.50% to 6,773. 

USD/JPY rose in Asian trade to June 2020 highs following earlier data from Japan and amid a lack thereof from the US, as investors await US House of Representatives' decision on passing the new massive financial rescue bill for the economy. 

As of 07:04 GMT, USD/JPY rose 0.29% to 109.19, with a nine-month high at 109.23. 

From Japan, household spending fell 6.1% in January, compared to a 0.6% dip in December, while average income fell 0.8%. 

Japan's GDP growth rose 2.8% in the last fourth quarter, down from 5.3% in the third quarter. 

Bank of Japan's M2 money supply rose 9.6%, up from 9.4% in January, while machine orders surged 36.7% in February.

The US House of Representatives is voting today on the $1.9 trillion financial rescue bill after the Senate passed it last Saturday.  

The Senate passed it 50-49, exactly along party lines, while Treasury Secretary Janet Yellen said that new package will provide enough resources to support the economy in the current crisis but it won't fix the long term inequality problems.