By Kate Gibson & Claudia Assis, MarketWatch NEW YORK (MarketWatch) -- Gold futures seesawed Tuesday, looking for direction after hitting a four-week high in the prior session. Gold for June delivery gained $1.30, or 0.1%, to $1.135.10 an ounce on the Comex division of the New York Mercantile Exchange. Physical demand, inflationary and sovereign-credit concerns are working to support gold prices, while some profit taking following the big gains and a stronger dollar are the day's sticky points for gold. "We're still seeing physical demand...particularly out of Asia. The minute (gold) drops to around $1,120 we see some buying coming in," said Walter de Wet, an analyst with Commerzbank in Frankfurt. The reports that Greece may be unwilling to turn to the International Monetary Fund for help supported the dollar versus the euro, which is often bearish for gold prices, but they may also have worked to have raised gold's profile as a safe-haven amid sovereign credit risk, de Wet said. The rising price of oil may have also contributed to gold's gains, as those who believe higher oil brings inflationary pressure may seek refuge in gold, he added. But gold also ran into "profit-taking overnight and may look to consolidate short-term," wrote analyst James Moore at the BullionDesk.com.. According to news reports, officials in Greece are seeking to amend the standby credit plan agreed to during a European Union summit last month to avoid the imposition of potentially onerous fiscal measures by the International Monetary Fund. The dollar climbed against the euro for a third day, and the dollar index (DXY 81.55, +0.46, +0.56%) , which measures the U.S. unit against a basket of six major currencies, recently gained 0.5%. On Monday, gold rose to a four-week intraday high of $1,133.20 an ounce, an upturn helped by a thin holiday market. "There has been precious little sign of the new money flows that have been widely anticipated to enter the market as the second quarter begins," said George Gero, metals analyst at RBC, in a note. Other metals turned lower on Tuesday. Silver for May delivery traded down 9 cents, or 0.5%, to $18.04 an ounce. Platinum and palladium, which led gains Monday and hit multi-year highs as they benefitted from the higher hopes for a firmer recovery, were also on the red. Platinum for July delivery declined $3.40, or 0.2%, to $1,706.40 an ounce. Palladium for June delivery retreted $1.85, or 0.3%, to $506.15 an ounce.

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