SINGAPORE (Commodity Online) : Gold prices remain steady in Asian trade Tuesday mainly on worries about a possible monetary tightening in China.

Spot gold was seen trading at $1105.52 an ounce at 11.30 a.m Singapore time while April delivery was at $1,109.8 at the same time.



The dollar retained gains ahead of the Fed meeting later on Tuesday as the euro was flat at $1.3675.

Gold rose in Asia as the prospects of credit tightening in China triggered a drop in equities, prompting some investors to seek a haven in precious metals.

Analysts said persistent worries about Europe's debt problems also influenced gold.

On Monday, Most-active gold for April delivery closed at $1,105.40 per troy ounce on Monday on the New York Mercantile Exchange, up from $1,101.70 on Friday.

May Silver ended at $17.108 per fine ounce, up 5.8 cents, while May copper fell 6.5 cents, to $3.315 per pound

Meanwhile, The world's largest gold-backed exchange-traded fund, SPDR Gold Trust said its holdings stood at 1,115.511 tons by March 15, unchanged from the previous business day.

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