* Dollar cut loss vs euro after weak U.S. data
* iShares Silver Trust <SLV> holdings hit record
* SPDR Gold Trust <GLD> holdings steady
(Recasts, updates prices and comments)
By Rebekah Curtis and Humeyra Pamuk
LONDON, Nov 13 (Reuters) - Gold edged up on Friday but
sentiment was wobbly, with currency fundamentals running against
the market as the dollar cut losses against the euro after weak
U.S. consumer sentiment data.
The precious metal held above key support at $1,100 an
ounce, but the recent rally was starting to look tired after a
succession of record highs. The market hit a record $1,122.85 on
Thursday due to a bearish prognosis for the dollar.
Spot gold <XAU=> was at $1,104 per ounce at 1503 GMT,
compared with a last quote of $1,103.60 late in New York on
Thursday.
"It has run out of steam after getting above $1,120 an ounce
yesterday," said Tom Kendall, precious metals strategist at
Mitsubishi.
"No one really wants to get longer at these levels. There's
some profit taking in there and some people are calling an
interim top and trying to short the market as they see dollar
coming back a touch," Kendall said.
The U.S. currency <.DXY> cut some of its earlier losses and
was only down 0.05 percent against a basket of currencies, after
data showed U.S. consumer sentiment falling in early November to
its weakest in three months. []
But the U.S. currency is still down about 7 percent so far
this year, making commodities priced in the greenback cheaper
for holders of other currencies and boosting gold's price
prospects.
"The only thing that seems likely to puncture this (gold's
rally) would be a reversal in the dollar," Stephen Briggs, a
commodities strategist for RBS in London, said.
Bullion gained 4.9 last week, posting its biggest weekly
rise since late April. Year to date, it is up by around 26
percent.
U.S. gold futures for December delivery <GCZ9> were down by
0.14 percent at $1,105 per ounce. They hit a record high of
$1,123.40 on Thursday.
OIL FALLING
U.S. crude oil <CLc1> fell and touched its lowest level in
almost a month, further weighing on gold as it often moves in
line with crude, both because it can be used as a hedge against
oil-led inflation and as rising crude prices often increase
interest in commodities as an asset class.
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. 12, unchanged from the previous day. []
And South Africa, previously the world's top producer, said
gold output fell 9.3 percent in volume terms in September
compared to a year earlier. []
There was a revival in interest in silver with holdings in
the world's largest silver-backed exchange-traded fund hitting a
record high.
The holdings in the iShares Silver Trust <SLV> rose 183.37
tonnes, or 2.1 percent, from the previous day to an all-time
high of 8,923.52 tonnes as of Nov. 12. []
Silver <XAG=> traded at $17.04 from $17.21. Platinum <XPT=>
was at $1,356 from $1,350.50 and palladium was at $352 from
$346.95.
But some warn the fundamentals for silver remain a concern.
"Silver is really struggling to keep up with gold at the
moment because this is a gold story, it is not a silver story,"
RBS' Briggs said. "Silver is only a geared play on gold, its own
fundamentals are not great. If it weren't for the ETF buying the
market is in surplus."
(Editing by Veronica Brown)
