Gold prices rose on Monday, resuming gains after pausing yesterday on profit-taking, rising near a 1-week high once again, as the US dollar fell against a basket of major currencies.

Gold prices rose more than 0.5% to $1,883.50 an ounce, after opening at $1,873.46 and hitting a low of $1,872.70.

The yellow metal lost 0.3% yesterday, and posted the first loss in three days on profit-taking from a 1-week high of $1,900.15.

The US dollar index fell by 0.4% today against a basket of major currencies, which lifts the prices of gold and other dollar-denominated metals.

This came as demand for the US dollar slowed due to strong sentiment after the US passed a new fiscal stimulus package.

The US House of Representatives voted on Monday to increase the stimulus checks for eligible Americans to $2,000 from $600, and the bill was sent to the Senate for a vote.

Gold stocks at the SPDR ETF rose 2.33 metric tonnes yesterday, with the total at the lowest level since June 22 at 1,167.53 MT.

Oil prices rose on Tuesday, to head for the third gain in four days, after taking a pause yesterday, amid expectations of increasing US demand.

US crude rose 1.1% to $48.22, after opening at $47.70, and hit a low of $47.70, and Brent crude rose 1.2% to $51.53 a barrel, after opening at $50.91, and hit a low of $50.91.

US crude lost 1.3% yesterday, and Brent crude futures fell 0.8%, their first loss in 3 days due to profit-taking from a 1-week high.

Oil prices are being lifted by expectations of rising fuel demand in the US, after the second stimulus package was approved in the country to mitigate the pandemic damages.

The US House of Representatives voted Monday night to increase the stimulus checks for eligible Americans to $2,000 from $600, and the bill was sent to the Senate for a vote.

US President Donald Trump signed On Sunday the new $2.3 trillion monetary and fiscal stimulus package to ease the coronavirus impact and prevent a government shutdown.

These stimulus measures will surely help the world's largest economy in overcoming the worst crisis since the 1930s Great Depression.

European stocks rose on Tuesday, heading for the fifth straight daily gain and hit a 10-month high, thanks to strong market sentiment after the US stocks jumped to new records.

The Stoxx Europe 600 index rose 0.6% as of 10:17 GMT, and hit the highest since February 403.26 points, at after it closed higher by 0.7% on Monday in the fourth straight daily gain, after the US passed a new fiscal stimulus package.

The pan European index opened higher today, extending its gains for the fifth straight day, and hit a 10-month high with most of the major European markets and sectors seeing green.

S&P 500 futures rose 0.5%, and hit an all-time record high ahead of Wall Street opening, after the index closed higher by 0.9% and posted its third straight daily gain and a new record high at 3,740.51 points.

US President Donald Trump signed on Sunday the new $2.3 trillion aid package, which is divided into $900 billion in stimulus checks and a government funding package of $1.4 trillion to ease the coronavirus impact.

The US Congress passed the fiscal aid package on last Tuesday, after months of talks between the US Democratic and Republican parties.

The US House of Representatives voted on Monday to increase the stimulus checks for eligible Americans to $2,000 from $600, and the bill was sent to the Senate for a vote.

Back to Europe, the Euro Stoxx 50 index rose 0.6%, France's CAC 40 rose 0.5%, and Germany's DAX rose over 0.4%.

The UK's FTSE 100 index jumped 2.4%, after the British market returned to work following a public holiday on Monday, amid strong sentiment after the historic trade deal between Britain and the European Union.

Oil prices continued to rise as the US market opened on Tuesday, resuming gains after taking a pause yesterday, amid expectations of increasing US demand, and ahead of preliminary data on US crude inventories later today.

US crude rose 1.3% to $48.32, after opening at $47.70, and hit a low of $47.70, and Brent crude rose 1.4% to $51.62 a barrel, after opening at $50.91, and hit a low of $50.91.

US crude lost 1.3% yesterday, and Brent crude futures fell 0.8%, their first loss in 3 days due to profit-taking from a 1-week high.

Oil prices are being lifted by expectations of rising fuel demand in the US, after the second stimulus package was approved in the country to mitigate the pandemic damages.

The US House of Representatives voted Monday night to increase the stimulus checks for eligible Americans to $2,000 from $600, and the bill was sent to the Senate for a vote.

US President Donald Trump signed On Sunday the new $2.3 trillion monetary and fiscal stimulus package to ease the coronavirus impact and prevent a government shutdown.

These stimulus measures will surely help the world's largest economy in overcoming the worst crisis since the 1930s Great Depression.

The American Petroleum Institute will release its preliminary data on US crude inventories later today, amid forecasts for inventories to rise for the seventh straight week, and the Energy Information Administration will release its official report on Wednesday.