* Gold heads for 11 percent rise this month
    * Coming Up: U.S. consumer confidence Jan; 1500 GMT

 (Updates prices, adds fresh quotes)	
    By Lewa Pardomuan	
    SINGAPORE, Jan 31 (Reuters) - Gold ticked up on
Tuesday after the euro rebounded, while bullion prices headed
for their biggest monthly rise since August as lingering
concerns about growth in the United States prompted buying from
investors. 	
    Gold jumped nearly 5 percent last week, its fourth
consecutive weekly gain, after the U.S. Federal Reserve pledged
to keep interest rates near zero until at least late 2014, which
could put pressure on the dollar.	
    Gold added $7.45 an ounce to $1,736.09 an ounce by
0656 GMT, having hit a low around $1,716 on Monday.	
    "Although charts look exhausted, U.S. dollar weakness and 
recent Fed activity seems to be giving fundamental boost for
gold to stay above $1,710," said Pradeep Unni, senior analyst at
Richcomm Global Services. 	
    "Steady prices have triggered buying interest." 	
    A top U.S. Federal Reserve official on Monday
said he would have preferred a more optimistic statement on the
U.S. economy, after the central bank last week painted a grim
picture of the recovery and forecast ultra-low interest rates
until late 2014, considerably later than investors had expected.
 	
   
 	
    Gold, which struck a record at $1,920.30 last September, was
headed for an 11 percent rise this month, highest since a 12
percent gain in August 2011. 	
    "Sentiment seems to have improved quite tremendously, I
would say. We are now into more bullish territory, more than
ever, with the Fed providing enough fundamental support," said
Dominic Schnider, head of commodity research at UBS Wealth
Management.    	
    "I think we have good reasons to believe we are going to
test $1,805 in the coming day. The Fed was clearly the most
important event," said Schnider.	
    Gold has gained for the last four consecutive weeks, with a
spike in prices before the Lunar New Year holidays being driven
partly by Chinese buying.  	
    "Before the Chinese New Year really started, we've seen
quite strong gold exports from Hong Kong to China. Apparently
Chinese demand was very solid," said Schnider.	
    U.S. February gold rose $5.60 to $1,736.60 an ounce.	
    In other markets, the euro rose on hopes for a Greek debt
restructuring deal that would help the country avoid a
disorderly default, possibly setting itself up for a test of a
key chart level. 	
    Greece and its private creditors realise the need to avert a
financial collapse of the country and are close to a deal on
restructuring Greek sovereign debt, Luxembourg Finance Minister
Luc Frieden said on Tuesday.  	
    Gold, typically a safe-haven asset, has been tracking the   
 fortunes of the euro and stocks, with speculators selling the  
  metal for cash to cover losses in other markets, especially   
 during this period of uncertainty in Europe.	
    The physical sector lacked activity, but jewellers could
eventually return to the market before prices rose further. 	
    "I think selling has ceased since last evening, but volume
was thin. Customers were all eager to see how low the price
would go, and now they are preparing to buy back," said a dealer
in Singapore. 	
    "The Indonesians are still sending gold scraps, but the
volume has dropped." 	
    Silver added 0.48 percent to trade at $33.62 an ounce
after rising to $33.95 on Monday, its strongest since
mid-November. Platinum and palladium also firmed. 	
    Holdings of the world's largest silver-backed
exchange-traded fund, iShares Silver Trust rose about 1
percent to 9,608.95 tonnes by Monday, from 9,510.70 tonnes on
Friday. 	
        	
  Precious metals prices 0656 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1736.09    7.45   +0.43     11.02
  Spot Silver        33.62    0.16   +0.48     21.42
  Spot Platinum    1618.49    9.25   +0.57     16.19
  Spot Palladium    688.72    5.02   +0.73      5.55
  COMEX GOLD FEB2  1736.60    5.60   +0.32     10.84          869
  COMEX SILVER MAR2  33.62    0.09   +0.28     20.44         2510
  Euro/Dollar       1.3175
  Dollar/Yen         76.32
 
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