SINGAPORE (Commodity Online) : Gold remains slightly up in Asian trade Tuesday but worries over fiscal stability in the Iberian peninsula and Greece hurts its sentiment.

Gold for immediate delivery was seen trading at $1063.51 an ounce at 11.30 a.m Singapore time, up 0.1 percent from New York's notional close of $1,062.80.



However, gold futures for April delivery eased 0.2 percent to $1,064.10 per ounce at the same time compared to $1,066.20 on the COMEX division of NYMEX.

Analysts said the precious yellow metal’s sentiment continued to be hurt by worries over fiscal stability in Europe, curbing appetite for riskier assets such as commodities.

The market's recovery from three-month lows hit last week has been limited due to technical selling and fund liquidation amid an uncertain economic outlook.

The dollar steadied on Tuesday after drifting lower the day before.

Meanwhile, the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings were at 1,106.378 tonnes as of Feb. 8, unchanged from the previous business day.

The holdings hit a record high of 1,134.03 tonnes on June 1. The holdings rose late last week for the first time since late December, suggesting investor demand was firm at lower price levels.

The world's largest silver-backed exchange-traded fund, the iShares Silver Trust , said its silver holdings stood at 9,397.56 tonnes as of Feb. 8, up 0.5 percent or 45.79 tonnes from the previous business day.

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