* Gold on slightly firmer footing as euro steadies
* Rising real interest rates seen capping momentum
* COMING UP: U.S. Consumer confidence, 1400 GMT
(Adds quotes, updates prices, changes dateline, byline
previous SINGAPORE)
By Veronica Brown
LONDON, March 30 (Reuters) - Gold firmed early in Europe on
Tuesday, supported by the euro holding ground against the dollar
on market relief that Greece was able to raise funds after a
pledge of aid from EU countries.
Spot gold stood at $1,110.05 per ounce by 0955 GMT <XAU=>
compared with $1,108.20 quoted late in New York on Monday when
the market hit a peak of $1,114.45, its strongest in almost two
weeks.
U.S. gold futures for April delivery <GCJ0> were 30 cents
lower at $1,110.00 per ounce after also hitting its highest in
almost two weeks on Monday.
The single currency was steady against the dollar <EUR=>
having rallied decisively last week when EU leaders announced
plans for a safety net for Greece, which would include the
International Monetary Fund, if Athens needed assistance to
service its debts.
However, while currency markets were running broadly in
bullion's favour, some analysts pointed to the potential threat
posed by interest rates.
"On the one hand, we have the weaker dollar which is
supportive for the market, but on the other hand we have rising
real interest rates," said Eliane Tanner, commodities analyst at
Credit Suisse.
"Real yields from TIPS have been increasing lately. Rising
real yields increase the opportunity cost of holding gold, so
this could exert downward pressure on the gold price," she
added.
TIPS are Treasury Inflation-Protected Securities. Any rise
in U.S. interest rates could dull the attraction of holding a
non-interest rate bearing asset priced in dollars, such as gold.
WEAK PHYSICAL DEMAND
Asia-based traders said activity in the physical market was
thin, but main consumer India was expected to resume purchases
ahead of the wedding season in April.
Consumers from Indonesia and Thailand were said to be on the
sidelines after recent purchases.
"Thailand is basically waiting for the delivery of the gold
bars they have bought earlier. There's nothing much from India
and I don't think they are in a rush to buy," said a dealer in
Singapore.
Gold jewellery is the most common gift during religious
events in India and local jewellers normally stock up weeks
before key celebrations.
On the investment front, the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust <GLD>, said its holdings
stood at 1,129.823 tonnes as of March 29, up 5.176 tonnes from
the previous business day. []
A new gold contract to be launched by the Singapore
Commodity Exchange (SICOM) on Tuesday is likely to face stiff
competition from established Asian trading platforms that often
struggle to boost volumes. []
Silver, platinum and palladium steadied after rallying in
the previous session on news that China's annual economic growth
will reach 12 percent this quarter following strong industrial
output growth last month. []
Spot silver was last at $17.35 per ounce <XAG=> compared
with 17.32 late in New York on Monday. Palladium was flat at
$471.00 an ounce <XPD=> while platinum firmed to $1,622.00 from
$1,620.50.
(Additional reporting by Lewa Pardomuan in Singapore)
(Reporting by Veronica Brown; Editing by Amanda Cooper)
