Commodity Online SINGAPORE: Gold prices eased in early Asian trade Tuesday 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. Bullion was trading at $775.60 an ounce, up $4.30 from New York's notional close on Monday, when it hit a session high of $781.70 an ounce. New York gold futures added $US6.3 an ounce to $775.6 in electronic trade. Platinum was trading at $824.50 an ounce, up $3.50 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. Market confidence was boosted after 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 $43 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.

Source