Gold prices rose on Tuesday, rebounding from the 6-week low that was hit yesterday, to head for the first daily gain in 5 days, lifted by the halt in global stocks' rally, but the US dollar's strong performance is curbing gold's rise. 

Gold prices rose 1.1% to $1,863.86 an ounce, after opening at $1,844.05 and hitting a low of $1,841.25.

The yellow metal lost 0.4% yesterday, and posted its fourth straight daily loss, and hit a 6-week low at $1,817.31.

Most global stock indices fell on Tuesday as investors eschewed risky assets after Democrats in the US House of Representatives proposed impeaching President Donald Trump after the Capitol siege events.

The US dollar index rose 0.1% against a basket of major currencies today, extending its gains for the fifth straight day, and hit a 3-week high of 90.72 points.

The dollar's uptrend came as the 10-year treasury yields rose to a 10-month high of 1.158%, after US President-elect Joe Biden pledged to launch a huge stimulus package.

Gold stocks at the SPDR ETF fell 0.4 metric tonnes yesterday, with the total at the lowest level since December 31 of 1,181.71 MT.

Oil prices rose 2% on Tuesday, after taking a pause yesterday on profit-taking from 11-month high, on hopes of extra stimulus in the US, after President-elect Joe Biden pledged to inject a huge fiscal spending package to support the economy.

US crude rose 2.05% to the highest since February 2020 at $53.23 a barrel, after opening at $52.16, and hit a low of $52.09, and Brent crude rose 1.9% to the highest since February at $56.70 a barrel, after opening at $55.60, and hit a low of $55.54.

US crude lost 0.8% yesterday, and Brent crude futures fell 1.1%, their first loss in 5 days on profit-taking.

Oil prices gained around 9% during the past week, and posted the first weekly gain in three, and the largest gain since early October, thanks to Saudi Arabia's pledge to cut its oil output during the next two months, and after US oversupply concerns faded.

US President-elect Joe Biden pledged to launch a huge stimulus package, adding that it would be in the trillions of dollars, and more details will be revealed on Thursday.

Goldman Sachs projected that Brent crude would rise to $65 a barrel by summer of 2021, than to the Saudi output cuts, and the impact of the US power shift to the Democrats.

USD/JPY tilted higher in Asian trade away from March 10 lows for the fifth straight session, following earlier data from Japan and ahead of US data and Fed speeches later today. 

As of 06:44 GMT, USD/JPY rose 0.02% to 104.28, with a month high at 104.33, and a session-low at 104.10. 

From Japan, current account surplus rose to 2.34 trillion yen from 1.98 trillion in October, beating estimates of 2.0 trillion. 

Bank of Japan showed bank lending rose 6.2% in December, down from 6.5% before, while the current conditions index fell to 35.5 from 45.6 in November. 

From the US, the JOLTS job openings are expected to show a decline to 6.42 million from 6.65 million, after earlier data showed unemployment steadied at 6.8% in December. 

US economy lost140 thousand new jobs last month, compared to adding 336K new job in November. 

Euro rose in European trade against dollar away from three-week lows while US 10-year treasury yields hit 10-month highs, underpinning dollar. 

EUR/USD rose 0.25% to 1.2179, after closing down 0.6% yesterday to three-week lows at 1.2132. 

US 10-year treasury yields continue their advance above 1%, hitting 1.158% on Tuesday, the highest since March. 

Higher yields underpin dollar's strength and contain losses against euro and other major rivals. 

Yields are surging as political tensions ease in the US as President Elect Joe Biden prepares to be inaugurated on January 20.