* Dollar eases off four-week peak
* Investors await Biden's oath ceremony
* Interactive graphic tracking global spread of coronavirus: https://tmsnrt.rs/3mvcUoa (Updates prices)
By Shreyansi Singh
Jan 19 (Reuters) - Gold held on to gains on Tuesday as the dollar remained under pressure, with prospects for more stimulus buoying bullion's appeal as an inflation hedge.
Spot gold XAU= was up 0.2% at $1,840.38 per ounce at 02:01 p.m. EST (1901 GMT), recovering from its lowest since Dec. 2 at $1,809.90 hit on Monday.
U.S. gold futures GCv1 settled up 0.6% to $1,840.20.
The value of the U.S. dollar should be determined by markets, Janet Yellen, U.S. President-elect Joe Biden's nominee for Treasury Secretary, told Senate lawmakers at her confirmation hearing on Tuesday. also reaffirmed her commitment to relief measures and underlined the depth of the economic crisis.
Gold is considered a hedge against inflation and currency debasement that can result from widespread stimulus.
The dollar is "going to be driven by market forces and for the time being, market forces are pointing to a lower dollar," said Daniel Ghali, commodity strategist at TD Securities.
The dollar index slipped from a four-week high hit in the last session, making bullion cheaper for holders of other currencies. USD/ US/
"As long as we get this momentum (in equities) on the upside, it makes gold prices relatively trade within a range," said Jeffrey Sica, founder of Circle Squared Alternative Investments, adding the likelihood of more stimulus was very positive for gold. central bank members are cognizant that even though equity markets are doing well, the underlying economy is still very weak and stimulus measures are needed," said Michael Langford, director at corporate advisory AirGuide. .N also await Biden's inauguration on Wednesday, amid security measures that have been stepped up after the Jan. 6 riot at the U.S. Capitol.
Silver XAG= eased 0.5% to $25.20 an ounce, platinum XPT= gained 0.4% to $1,082.92 and palladium XPD= was down 0.6% at $2,357.76.