PRECIOUS-Gold hits record above $1,126 as dollar sags

TOKYO, Nov 16 (Reuters) - Spot gold punched to a record high
above $1,126 an ounce on Monday as investors sought out bullion
as a hedge against a weak dollar, while the precious metal's
gains helped send platinum to its highest since September 2008.

News that commodities funds manager Blackrock Investment
(BLK.N) expected central banks to be net gold buyers in 2009 also
contributed to gold's rise. [ID:nWNAS7722]

Spot gold XAU= was at $1,123.75 an ounce at 0026 GMT, up
0.5 percent from New York's notional close of $1,118.50. It
earlier touched an all-time high of $1,126.30.

The previous record was $1,122.85 marked on Thursday.

The dollar drifted lower in Asia on Monday, extending falls
from late last week and heading into a week that is likely to see
increased rhetoric on currencies from both China and visiting
U.S. President Barack Obama. [USD/]

The greenback fell broadly on Friday after data showed a
wider U.S. trade deficit and weaker consumer sentiment.

U.S. gold futures for December delivery GCZ9 stood at
$1,124.20 an ounce, up 0.7 percent from Friday's settlement. The
contract also earlier rose to a new record high, of $1,127.90.

The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust (SLV), said its bullion holdings rose 30.56
tonnes, or 0.3 percent, from the previous business day to a
record 8,954.08 tonnes as of Nov. 13.

Spot platinum XPT= stood at $1,386.50 an ounce after
hitting a 14-month high of $1,394.00.

On Friday platinum broke through above $1,390 for the first
time since September 2008 after news that Impala Platinum
Holdings (IMPJ.J) forecast output from Rustenburg, its main
mining area, would fall by 100,000 ounces this financial year to
850,000 ounces, due to closures over safety and a two-week
strike. [ID:nLD693787]

Impala Platinum is the world's No. 2 producer of the metal
used to clean vehicle exhaust fumes and make jewellery.

But interest from long-term investors in gold-backed
securities was relatively low.

The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD), said its holdings stood at 1,113.833
tonnes as of Nov. 13, down 0.61 tonne from the previous business
day. [GOL/SPDR]

It was the first fall since Nov. 5.
Precious metals prices at 0023 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1123.10 4.60 +0.41 27.60
Spot Silver 17.57 0.16 +0.92 55.21
Spot Platinum 1386.00 -4.00 -0.29 48.71
Spot Palladium 355.50 2.00 +0.57 92.68
TOCOM Gold 3245.00 23.00 +0.71 26.12 23748
TOCOM Platinum 4014.00 66.00 +1.67 51.36 4819
TOCOM Silver 507.00 4.80 +0.96 58.78 102
TOCOM Palladium 1036.00 20.00 +1.97 88.36 96
Euro/Dollar 1.4954
Dollar/Yen 89.50
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Risa Maeda; Editing by Chris Gallagher)