* Gold bounces in volatile trade
* For the technicals on gold, click [
]* Coming Up: U.S. Consumer Confidence for June; 1400 GMT (Updates prices)
By Lewa Pardomuan
SINGAPORE, June 29 (Reuters) - Gold bounced on Tuesday as bargain hunters resurfaced after a price drop, with sentiment underpinned by Europe's debt crisis and record high ETF holdings, although it struggled to revisit last week's all-time high.
Investors will closely watch debt auctions by France and Spain later this week after lukewarm demand for Italy's sale of 7 billion euros of government bonds on Monday highlighted lingering worries about euro zone debt troubles.
Spot gold <XAU=> rose $3.75 to $1,239.80 an ounce by 0533 GMT, having risen as high as $1,262.45 an ounce on Monday, just below a record around $1,264 struck on June 21, before losing much of the gain to a bout of profit-taking.
"Gold is likely to remain pretty well supported in the current quarter. Safe-haven demand for gold remains prominent," said David Moore, a commodity strategist at Commonwealth Bank of Australia in Sydney, adding that Monday's decline did not represent a fundamental change in gold views.
The world's largest gold-backed exchange-traded fund, SPDR Gold Trust <GLD.P> said its holdings were unchanged at a record high at 1,316.177 tonnes. [
]Asian stocks were on course on Tuesday for their worst quarterly performance since the end of 2008, as the tepid nature of the rich world's recovery from global recession keeps investors on the defensive. [
]U.S. gold futures for August delivery <GCQ0> added $2.00 an ounce to $1,240.6 an ounce, having hit a high around $1,263 on Monday -- its strongest price since last Monday's all-time high at $1,266.50.
Gold has struck a record because of worries the sovereign debt crisis in Europe could spread and the U.S. economy is slowing, but some analysts felt the metal was vulnerable to profit taking whenever it rose towards the peak.
"Hence, a cautious investor should carefully weigh the upside potential against the downside risks and not be blinded by gold's glittery charm," said Ong Yi Ling, investment analyst at Phillip Futures.
For a graphic of the 24-hour gold technical outlook, click: http://graphics.thomsonreuters.com/gfx/WT_20102906085253.jpg
The euro hit an all-time low against the Swiss franc on Tuesday on funding concerns about the euro zone. Investors were getting a bit wary about growth-linked currencies and the euro amid festering problems in the euro zone. [
]Oil fell to below $78 on Tuesday as forecasts indicated tropical storm Alex would skirt the main production region in the U.S. Gulf of Mexico, limiting disruption there to a few precautionary shutdowns. [
] Precious metals prices at 0533 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1239.80 3.75 +0.30 13.15 Spot Silver 18.66 -0.02 -0.11 10.87 Spot Platinum 1561.80 -3.20 -0.20 6.46 Spot Palladium 464.70 -1.30 -0.28 14.60 TOCOM Gold 3547.00 -72.00 -1.99 8.84 51824 TOCOM Platinum 4501.00 -79.00 -1.72 2.74 19243 TOCOM Silver 53.80 -1.60 -2.89 4.06 1231 TOCOM Palladium 1346.00 -43.00 -3.10 15.54 394 Euro/Dollar 1.2251 Dollar/Yen 88.68 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Editing by Clarence Fernandez)