* Spot gold eyes $1,796 -technicals
* Coming Up: U.S. Federal budget, July; 1800 GMT (Updates prices)
By Lewa Pardomuan
SINGAPORE, Aug 10 (Reuters) - Gold held steady on Wednesday, hovering near a lifetime high around $1,778 an ounce struck in the previous session, but further gains could be capped by a rebound in equities after the U.S. Federal Reserve's vow to keep rates near zero.
Stocks bounced in Asia after U.S. shares jumped on the Federal Reserve's unprecedented pledge to keep interest rates near zero for at least two years, although the move confirmed fears the U.S. economy will remain weak for far longer than previously forecast.
Gold added $6.91 to $1,750.31 an ounce by 0620 GMT, having hit a record at $1,778.29 on Tuesday, in its biggest three-day rally since the financial crisis in late 2008 after equities plunged on fears over the threat to economic growth from the U.S. and euro debt crises.
"Generally speaking, the panic is subsiding for the moment. I would expect that (gold) will consolidate at these levels for a while before we get any sort of clear idea of the sort of next major moves," said Citigroup analyst David Thurtell.
"I think there are enough concerns about sovereign debts and weakening growth, that people will buy dips, so it should remain supported."
U.S. December gold futures
Tracking strong global prices, the most active gold contract
on the Tokyo Commodity Exchange, June 2012
Global stock markets had been tumbling since the start of August on fears the United States would slide back into recession after a downgrade of the U.S. credit rating on Friday, and on the ever-expanding euro zone debt crisis.
MSCI's all-country world stock index was about 17 percent below its May peak on Wednesday, after slipping as far as 20 percent, the generally accepted definition of a bear market, on Tuesday.
"We'll wait and see if stocks markets will continue to stabilise, because if they will, then gold will drop down a bit," said a physical dealer in Hong Kong.
"But I think there's no change in sentiment for gold. Interest rates in the U.S. will be kept low in the next two years and it should benefit gold for the time being."
Premiums for gold bars remained steady in Singapore and Hong Kong, while dealers in Tokyo were offering excess gold bars to trading houses in Southeast Asia after record bullion prices triggered selling in Japan.
Gold bars were quoted at a discount of 25 cents in Tokyo.
"The general public has been selling back their gold, so that's why we are offering gold bars not only to Singapore, but also to other countries in Southeast Asia," said a physical dealer in Tokyo.
"Southeast Asia is still buying gold at this moment."
Vietnam approved 5 tonnes of gold imports on Tuesday and could double the quantity soon as surging prices touched off a frenzy at gold dealers and jewellers.
High bullion prices blunted demand in main consumer India, but a correction could prompt bargain hunting from jewellers as the busy wedding season resumes later this month.
Gold jewellery is an essential part of the dowry basket parents give daughters at Indian weddings.
In the energy market, Brent crude rose more than $3 on Wednesday after the Fed promised to extend near-zero interest rates for two more years.
Precious metals prices 0620 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1750.31 6.91 +0.40 23.31 Spot Silver 37.84 0.21 +0.56 22.62 Spot Platinum 1753.49 4.89 +0.28 -0.79 Spot Palladium 743.47 9.52 +1.30 -7.01 TOCOM Gold 4325.00 -23.00 -0.53 15.98 102001 TOCOM Platinum 4368.00 79.00 +1.84 -6.98 12333 TOCOM Silver 93.40 -3.00 -3.11 15.31 1127 TOCOM Palladium 1860.00 91.00 +5.14 -11.30 382 COMEX GOLD DEC1 1631.20 15.00 +0.93 14.76 136930 COMEX SILVER SEP1 40.11 0.31 +0.78 29.63 44407 Euro/Dollar 1.4324 Dollar/Yen 76.81 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months
(Reporting by Lewa Pardomuan; Editing by Sugita Katyal)