ED: Gold steadies after biggest daily gain in 2 weeks
Gold steadied after posting its biggest daily gains in two weeks amid a rally in oil prices and improved prospects for an economic recovery based on stimulus plan by the US government.
Gold was trading at $US775.60 an ounce, up $US4.30 from New York's notional close on Monday, when it hit a session high of $US781.70 an ounce.
Market confidence was boosted after President-elect Barack Obama said his plan to create at least 2.5 million new jobs included the largest infrastructure investment since the 1950s.
Oil was steady above $US43 a barrel on Tuesday after rising 7% as a rebound in global equity markets and signs of deepening cuts from top world supplier Saudi Arabia helped the market break a six-session losing streak.
The Nikkei gained 0.4%.
Platinum was trading at $US824.50 an ounce, up $US3.50 from New York notional close on Monday, when it gained more than 5% on growing optimism about a rescue for the auto industry in the United States.
The White House reviewed a Democratic plan on Monday to bail out stricken automakers with up to $US15 billion in loans, a bid that would also clear the way for longer-term help if industry meets certain conditions.
New York gold futures added $US6.3 an ounce to $US775.6 in electronic trade.
