* Gold eyes further gains on dollar weakness, sentiment
* SPDR Gold holdings unchanged at 1,114.443 tonnes
* Goldman Sachs sees gold between $1,150-1,200/oz
(Recasts, updates prices, changes dateline from TOKYO)
By Humeyra Pamuk
LONDON, Nov 11 (Reuters) - Gold shot to a record high on
Wednesday as the dollar slipped to its lowest in more than a
year and analysts predict further gains for the precious metal
on the U.S. unit's persistent weakness.
Spot gold <XAU=> rallied to $1,115.85 an ounce and was at
$1,114.65 an ounce by 0835 GMT versus $1,105.30 an ounce last
quoted late in New York on Tuesday.
U.S. gold futures for December delivery <GCZ9> rose 1.2
percent to $1,115.7 an ounce after hitting an all-time high of
$1,116.3 an ounce.
"The dollar weakness is the main trigger this morning," said
Wolfgang Wrzesniok-Rossbach, head of sales at precious metals
house Heraeus.
The dollar slid to its lowest against a basket of currencies
in 15 months on Wednesday, continuing its decline on the view
U.S. interest rates will stay low for a long time. []
U.S. investment bank Goldman Sachs said gold could rise to
record highs in a range from $1,150 to $1,200 an ounce, driven
by falling real interest rates and renewed buying interest by
central banks. []
"The general mood for gold is still positive in the aftermath
of the India story. Fund managers, private investors seem to be
bullish on gold," he said.
INDIA
India's recent purchase of 200 tonnes of gold from the
International Monetary Fund has also given gold support as it
has kept the metal out of the market.
The question has now shifted to how and when the IMF will
execute the transaction for the remaining planned gold sales.
[]
A former senior foreign exchange official in China, which
was seen by some as the most likely buyer of IMF's gold, said
this week the country should not rush to buy the metal from the
IMF but should wait for the price to drop from a record.
[]
World Bank President Robert Zoellick said on Wednesday that
the dollar's role as a reserve currency is intact, but the
United States cannot take it for granted and needs to tackle its
huge fiscal deficit. []
The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,114.443 tonnes as
of Nov. 10, unchanged from the previous business day and at a
level last seen in July. []
Spot silver <XAG=> was at $17.52 per ounce, compared with
$17.32 last quoted in New York late on Tuesday.
Spot platinum <XPT=> was at $1,366.50 per ounce, up from
$1,349.50, while palladium <XPD=> was at $336.25 versus $331.50.
(Additional reporting by Miho Yoshikawa, Editing by Sue Thomas)
