A meeting of European Union finance ministers Tuesday is likely to be in the spotlight Gold prices jumped on Tuesday, as the euro came off a nine-month low against the US dollar despite persistent uncertainty over the possible details of the rescue package for Greece. Gold for April delivery rose US$24, or 2.2%, to US$1,114 an ounce in electronic trading on Globex. The April contract is the most actively traded. It earlier climbed to an intraday high of US$1,117.50 an ounce. Worries over Greece's high public debt have recently pressured the euro and boosted the dollar. Gold futures tend to fall when the dollar rises. The dollar was flat to slightly lower versus major counterparts and lost some ground against a rebounding euro as investors showed renewed risk appetite. Risk appetite was boosted earlier, with the Australian dollar rising against its US counterpart after minutes of the most recent Reserve Bank of Australia meeting suggested that more interest-rate increases are coming. The dollar index, which tracks the performance of the greenback against a basket of other major currencies, slipped to 80.173 from 80.259 on Monday. The euro, which had fallen to its lowest level in nearly nine months versus the dollar last week amid fears over Greece's budget woes and the potential for default, rose to US$1.3643, up by 0.3% from Monday. US stock index futures pointed to a higher open on Wall Street following Monday's Presidents Day holiday, while European equities were mostly higher. A meeting of European Union finance ministers Tuesday is likely to be in the spotlight. Meanwhile, crude oil futures rose above US$75 per barrel, as a slightly weaker dollar and gains in European equities boosted sentiment following a long holiday weekend in the US. Crude for March delivery gained US$1.23, or 1.7%, to stand at $75.36 a barrel in electronic trading on Globex. Oil prices joined a broad-based rally in commodities, as the dollar edged lower against rival currencies.

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