Oil and gold

Oil climbed away from $60 on Tuesday, drawing strength from an increase in Asian and European stocks after five days of losses. U.S. crude gained 37 cents to $60.44 a barrel, having dropped $1.57 on Monday to touch a two-week low of $59.55. London Brent crude was up 55 cents to $61.09.

Gold rose the most in two weeks on expectations a decline in the dollar against the euro will revive demand for the metal as an alternative investment. Gold for immediate delivery gained $7.80, or 1.2%, to $644.40 in early trade in London.

Currencies

The dollar recovered against the yen Tuesday from the previous day in Asia but remained slightly lower than overnight New York levels. The dollar was trading at 116.27 yen, down from 116.37 yen late Monday in New York, but above the 115.60 yen it cost late Monday in Asia. The euro rose to $1.3106, from $1.3098. The U.K. pound rebounded from a four- month low against the yen. The pound gained 1.1% against the yen, trading at 224.42 yen in early trade in London, from 221.88 yesterday. Against the euro, it was at 68.06 pence, from 68.16, and traded at $1.9263 from $1.9205.