Canada has approved a multi-billion dollar emergency response act and the US was nearing a Senate vote on a US$2 trillion deal.
North American markets closed higher for the second day in a row, for the first time since mid-February.
The S&P/TSX Composite Index gained 17% over the past two days and despite a drop towards the close, the S&P 500 finished up 1.15% following the previous day's 9.38% gain.
London's FTSE 100 closed up 4.45%, where precious metals producer Polymetal (LSE: POLY) lost 3.6%.
Global futures are mixed.
The gold price is worth about US$1,604 an ounce on the spot market.
"Like most asset classes, gold has been affected by widespread, rapid-fire asset sales and a dash for cash," World Gold Council CEO David Tait said.
"Notwithstanding recent price volatility, I believe gold is as relevant as ever and will play an increasingly important role in investors' portfolios in the years to come.
"The long-term implications of ballooning budget deficits, negative real rates, and debasement of currencies should support gold in future."
In Canada, Ontario-focused gold explorer Treasury Metals (TSX: TML) gained 37.5% yesterday and Alderon Iron Ore (TSX: IRON) shot up 45.8%, both on no news.
