PRECIOUS-Gold hits record high above $1,192/oz

                                
 TOKYO, Nov 26 (Reuters) - Gold touched a record high above
$1,192 on Thursday then nudged lower, but sentiment remained
solid on expectations of more central bank buying of bullion and
further dollar weakness.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> hit a fresh record high of $1,192.60 in
early Asia trade on Thursday. But as of 0004 GMT, spot gold was
down 0.2 percent at $1,187.50 compared with New York's notional
close of $1,190.30.
                                
 * Gold prices have risen nearly 15 percent since the
beginning of November, with demand fuelled by expectations of
further reserve diversification, prospects for further dollar
weakness and fears about inflation in 2010.
                                
 * The market is highly sensitive to speculation of more
official sector buying, particularly in Asia, after news in early
November that India's central bank had bought 200 tonnes of gold
from the International Monetary Fund. Russia, Sri Lanka and
Mauritius have also announced gold acquisitions.
                                
 * U.S. December gold futures <GCZ9> were at $1,187.80 per
ounce after briefly matching Wednesday's record high of $1,192.80
in early Asia trade on Thursday. Futures settled up $21.20, or
1.8 percent, at $1,187.00 an ounce on the COMEX division of the
New York Mercantile Exchange.
                                
 * U.S. markets will be closed on Thursday for the
Thanksgiving holiday.
                                
 * The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,127.860 tonnes as
of Nov. 25, up 5.489 tonnes, or 0.5 percent, from the previous
day and just shy of a record 1,134.03 tonnes hit on June 1.
[GOL/SPDR]
                                
 MARKET NEWS
                                
 * U.S. stocks rose in light trading volume on Wednesday,
supported by data that pointed to stabilisation in the labour and
housing markets, areas that have fed concerns about a "double
dip" return to recession. [.N]
                                
 * The dollar remained pressured on Thursday after touching a
10-month low of against the yen and fell to a more than 15-month
low against a basket of six major currencies the previous day.
Data suggesting stabilisation in the U.S. labour and housing
markets helped boost U.S. stock prices and risk appetite in
general, denting safe-haven demand for the dollar. [USD/]
                                
 DATA EVENTS
                                
 * The following data is expected on Thursday: <ECON>
                                
 - Euro zone private loans and M3 for October. (0900 GMT)
                                
 - British CBI retail sales for November. (1100 GMT)
                                
 RELATED NEWS
>IMF no comment on prospect of more gold sales    [ID:nGEE5AO24C]
>IMF sells 10 tons of gold to Sri Lanka           [ID:nN25483719]
>US Mint to suspend American Eagle gold 1-oz coins[ID:nN25365565]
>Gold on course for strongest month in a decade    [ID:nSP531639]
>Tumbling USD reignites commod rally; gold tops $1,190 [COM/WRAP]
>Gold likely to extend its lead over sluggish oil [ID:nGEE5AN292]
                                
 PRICES
                                
 Precious metals prices at 0003 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30  RSI
 Spot gold    $1187.40   -$2.90  -0.24%   +32.37%    $860.10   88
 Spot silver    $18.80   -$0.02  -0.11%   +56.93%     $11.29   75
 Spot plat    $1470.00   -$3.00  -0.20%    +1.55%   $1381.88   73
 COMEX gold   $1188.80   -$4.70  -0.39%    +1.89%   $1102.65   90
 TOCOM gold      3,350       -8  -0.24%    +0.33%      3,187   76
 TOCOM plat      4,139      -27  -0.65%    -0.05%      3,993   64
 Currencies
 Euro/dlr       $1.512  -$0.002  -0.11%    +1.09%
 Dlr/yen         87.36     0.06  +0.07%    -1.36%
 (Reporting by Chikako Mogi)
 ((chikako.mogi@thomsonreuters.com; +81-3-6441-1871; Reuters
Messaging: chikako.mogi.reuters.com@reuters.net))
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