PRECIOUS-Gold falls to $1,185/oz as dollar recovers

                                
 TOKYO, Nov 27 (Reuters) - Gold fell to around $1,185 an ounce
on Friday after reversing earlier gains to an all-time high near
$1,195 the previous day as the dollar bounced from its lows.
                                
 FUNDAMENTALS
                                
 * Spot gold <XAU=> was at $1,185.45 as of 0022 GMT, down 0.6
percent from the notional New York close of $1,192.60.
                                
 * Bullion hit a fresh record high of $1,194.90 on Thursday
before the dollar gained ground on concern about debt problems in
Dubai, pressuring down the precious metal.
                                
 * Gold has risen more than 37 percent this year, including a
13 percent rise in November alone on dollar weakness,
expectations of further reserve diversification by central banks
and fears of inflation next year.
                                
 * Sri Lanka's Deputy Finance Minister Sarath Amunugama said
in an interview with Reuters on Thursday the country was
considering buying more gold from the International Monetary
Fund. [ID:nSP353593]
                                
 * The news came after the IMF said on Wednesday it had sold
10 tonnes of gold to the Central Bank of Sri Lanka, part of the
403.3 tonnes approved for sale by the fund's executive board in
September. The fund has already sold 202 tonnes to the central
banks of India and Mauritius. [ID:nN25483719]
                                
 * U.S. markets were closed on Thursday for the Thanksgiving
holiday.
                                
 * U.S. December gold futures <GCZ9> were at $1,186.20 per
ounce, down 0.1 percent from the previous close.
                                
 * 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, unchanged due to a holiday on Thursday. [GOL/SPDR]
                                
 MARKET NEWS
                                
 * The euro was at $1.4965 on Friday after hitting a peak
above $1.51 earlier this week. The dollar was off a 15-month low
against a basket of currencies <.DXY> marked the previous day.
[USD/]
                                
 * Japan's Nikkei share average <.N225> was down 1.9 percent
on Friday.
                                
 DATA EVENTS
                                
 * The following data is expected on Friday: <ECON>
                                
 - Japan Oct jobs data, CPI for Oct (2330 GMT, Thurs)
                                
 - Japan Oct retail sales (2350 GMT, Thurs)
                                
 - France consumer confidence (0745 GMT)
                                
 - Euro zone business climate (1000 GMT)
                                
 - Euro zone consumer sentiment (1000 GMT)
                                
 - Euro zone economic sentiment (1000 GMT)
                                
 RELATED NEWS
 >Colombia's Mineros to increase gold output      [ID:nN26394951]
 >Randgold boosts 2011 output forecast            [ID:nN26392831]
 >Allianz fund sees chances in energy squeeze    [ID:nnGEE5AP1F8]
 >India Nov gold imports half of 2008 level       [ID:nBOM467715]
 >Dubai struggles to ease debt default fears      [ID:nGEE5AP167]
 >TAKE-A-LOOK-Dubai seeks debt delay for firms    [ID:nGEE5AO2FN]
                                
 PRICES
                                
 Precious metals prices at 0025 GMT
 Metal         Last      Change  Pct chg  Day ago pct  MA 30  RSI
 Spot gold    $1185.45   -$7.15  -0.60%   +32.16%    $860.10 82
 Spot silver    $18.43   -$0.18  -0.97%   +53.84%     $11.29 58
 Spot plat    $1449.00   -$3.00  -0.21%    -1.66%   $1385.35 62
 TOCOM gold      3,279      -62  -1.86%    -2.35%      3,192 54
 TOCOM plat      4,003     -116  -2.82%    -3.91%      3,992 41
 Currencies                                              
 Euro/dlr       $1.499  -$0.002  -0.15%    -0.99%
 Dlr/yen         85.59    -0.93  -1.07%    -1.96%
 (Reporting by Risa Maeda)
 ((risa.maeda@thomsonreuters.com; +81 3 6441 1856; Reuters
Messaging: risa.maeda.reuters.com@reuters.net))
 ((If you have a query or comment on this story, send an email to
news.feedback.asia@thomsonreuters.com))
 ((Multimedia versions of Reuters Top News are now available for:
                                
 * 3000 Xtra     :  visit
http://topnews.session.rservices.com
                                
 * BridgeStation :  view story .134
                                
 * Reuters Plus  : from your WebDSS screen
                                
For more information on Top News, visit
http://topnews.reuters.com))
                                
  Reuters Terminal users can see related news and prices by
double clicking on the codes in brackets:
 - All precious metals headlines [GOL]
 - Precious metals market reports [GOL/]
 - Daily fixing headlines [GOL/FIX]
 - Technical analysis [PREC/I]
 - Indian gold reports [GOL/IN]
 - European gold prices <GOLD/EU1><GOLD/EU2><0#PREC>
 - London interbank gold forward rates <GOFO> <0#GOFO=>
 - London silver forwards <SIFO><SIFO=>
 - Gold lease rates <LGLR><0#LGLR=>
 - London Bullion Market Association <LBMA01>
 - New York Comex gold <0#GC:> and silver <0#SI:>
 - New York platinum <0#PL:> and palladium <0#PA:>
 - Asian gold prices <GOLD/ASIA1><0#PREC>
 - Australian precious metals prices <GOLD/ASIA2><0#AUPREC=>
 - Shanghai Gold Exchange prices <SGE/MENU>
 - Hong Kong gold exchange prices <HKGG>
 - Hong Kong bullion prices <SHKG>
 - Indian bullion prices <INBULL><0#PREC-IN>
 - Japanese producer prices <JP/PROD1>
 For Related News and other topics, double click on one of these
codes:
 SPEED GUIDES
 <COMMOD>            <ENERGY>
 <PRECIOUS/1>        <PRECIOUS/2>
 <REUTERS>