Australian Securities Exchange futures were up 44 points on Thursday after the S&P 500 jumped 1.4% to a record 3851.85 points on hopes of a US stimulus package and a more effective roll-out of Covid-19 vaccines.
News agency Bloombert reported that it was the best first-day reaction to a newly elected president's inauguration since 1937.
Gold, which had been stuck in a rut for some days, jumped 1.6% to $1870 an ounce, its highest level in two weeks.
Silver rose 2.4% to $25.94/oz.
Base metals were also positive, with tin rising 2.7% to an 18-month high of $21,964 per tonne.
Lead and zinc each rose by about 1.5%, while copper was back over $8000/t.
