Gold extends losses despite euro zone concerns

                      Gold extended losses in Asian trade Tuesday despite lingering concerns over euro zone's banking systems.

Gold for immediate delivery was seen trading at $1601.32 an ounce at 12.00 noon Singapore time while US gold was seen at $1600.48 an ounce.

Analysts said gold is likely to remain steadied during the day as it's safe-havendemand ebbed after Cyprus clinched a last-ditch rescue deal.

Gold, which typically benefits from economic uncertainty, pushed to a three-week high above $1,616 an ounce last week amid worries around the Cyprus bailout.

It dropped to a 1-1/2 week low of $1,589.49 on Monday after Cyprus' 11th-hour deal.

On Monday, gold futures finished lower,but prices held ground above $1,600 an ounce as a bailout deal in Cyprus dulled only some of gold's safe-haven appeal.

April gold lost $1.60, or 0.1%, to settle at $1,604.50 an ounce on the Comex division of the New York Mercantile Exchange, well above the session’s low of $1,588.40.