Gold steadied in Europe on Tuesday as safe-haven buying of assets such as bullion-backed exchange-traded funds arrested the previous session's near 3 percent slide. The precious metal managed to lift from lows despite strength in the dollar versus the euro, typically a major influence on gold. [ID:nL3719819] At 1223 GMT, gold was quoted at $904.40/905.30 an ounce, little changed from $903.15 late in New York on Monday. Earlier it touched a low of $894.30. "Gold is a barometer for fear on the markets," Commerzbank analyst Eugen Weinberg said. "If the equity markets are down, if sentiment is becoming more cautious and people are worried about the health of the financial system, gold prices will rise despite the U.S. dollar." Interest in smaller investment products such as gold coins and bars and physically-backed exchange-traded funds (ETF) has grown as rising volatility in other asset prices boosts bullion's appeal as a safe store of value. European shares slipped on Tuesday after earlier gains as oil major BP's (BP.L) weaker than expected results dragged down prices [.EU]. U.S. stock futures are expected to open higher as investors brace for a flurry of corporate results. [ID:nL3655802] STEADY Oil prices also steadied after sliding almost 4 percent on Monday. [ID:nSP306755] Bullion prices fell $25 an ounce in that session as investors took profits after the previous week's more than 3 percent rally, and hurt by fears over weak jewellery demand in key centres such as India and the Middle East.

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