* Gold touches fresh record high
* Holdings in iShares Silver Trust <SLV> hit record high
* SPDR Gold holdings inch up 0.08 pct
By Miho Yoshikawa
TOKYO, Nov 25 (Reuters) - Gold rose to a record high above
$1,175 on Wednesday, the second time this week it has notched up
a new high on solid investment sentiment and expectations of more
gold buying by the public sector.
A recent purchase of 200 tonnes of gold by India's central
bank sparked a rally that lifted the precious metal to successive
record highs with it gaining about 12 percent this month alone.
The purchase was part of a planned sale of 403.3 tonnes by
the International Monetary Fund.
Russia, Sri Lanka and Mauritius have also since announced
gold acquisitions.
Kazuhiko Saito, chief analyst at Fujitomi Co Ltd in Tokyo,
said investors continued to believe that other central banks may
buy gold, although hopes were perhaps not as high as they once
were.
"Gold is being bought even when the euro falls against the
dollar, and what we are seeing is an active flow of funds," Saito
said.
He added that gold could face a correction given the rapid
pace at which it has climbed.
Traders say investors are also attracted to gold, which is
seen as a hedge against inflation, which erodes the value of
paper assets.
Spot gold <XAU=> rose to an all-time high of $1,175.60 per
ounce, before drifting lower to $1,174.70 as of 0243 GMT, up 0.5
percent from the notional close in New York.
It topped the previous high of $1,173.50 touched on Monday.
U.S. gold futures for December delivery <GCZ9> rose to a
record high of $1,176.40.
The previous record high was the $1,174.00 marked on Monday.
Money has also flowed into other precious metals investment
instruments.
The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its silver holdings rose 135.98
tonnes or 1.5 percent from the previous business day to a record
9,252.02 tonnes as of Nov. 24. []
The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,122.371 tonnes as
of Nov. 24, up 0.914 tonnes or 0.08 percent from the previous
business day. []
The dollar fell to its lowest in seven weeks against the yen
on Wednesday after Japanese exporters sold dollars in early trade
and the greenback slipped against other majors, dealers said.
[]
U.S. crude oil price <CLc1> hovered around $76 per barrel on
Wednesday, after falling 2 percent in the previous session after
data showed the U.S. economy grew at a slower-than-expected pace
last quarter. []
PRICES
Precious metals prices at 0240 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1174.90 6.00 +0.51 33.49
Spot Silver 18.66 0.17 +0.92 64.84
Spot Platinum 1446.50 2.00 +0.14 55.20
Spot Palladium 370.50 4.15 +1.13 100.81
TOCOM Gold 3345.00 6.00 +0.18 30.00 42372
TOCOM Platinum 4114.00 -27.00 -0.65 55.13 10463
TOCOM Silver 532.10 0.40 +0.08 66.65 366
TOCOM Palladium 1053.00 -10.00 -0.94 91.45 123
Euro/Dollar 1.4986
Dollar/Yen 88.26
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Miho Yoshikawa; Editing by Edwina Gibbs)
((miho.yoshikawa@thomsonreuters.com; +81-3 6441 1854; Reuters
Messaging: miho.yoshikawa.reuters.com@reuter s.net))
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