US gold hits record on dollar drop, India purchase

NEW YORK, Nov 4 (Reuters) - U.S. gold futures again hit record highs on Wednesday and are within striking distance of $1,100 an ounce, helped by the dollar's decline and improved sentiment after the International Monetary Fund completed a gold sale to India.

For the latest detailed report, click on [GOL/].

GOLD

* December gold settled up $2.40 at $1,087.30 an ounce on the COMEX division of the New York Mercantile Exchange.

* Range from $1,080.50 to a record-high $1,096.50.

* Gold boosted by economic optimism on a Wall Street rally, which erodes the dollar's safe-haven appeal.

* Dollar at session lows against euro following an optimistic U.S. non-manufacturing economic indicator. [USD/]

* Sentiment strong on expectations of renewed central bank interest after IMF sold 200 tonnes of gold to India on Monday.

* Gold boosted on the notion that India could buy more from the IMF, or more IMF gold could be sold to central banks without weighing down on the open market - traders.

* Some bullion investors cut positions as prices failed to break above key $1,100 level, ahead of the Federal Reserve's interest rate decision.

* COMEX estimated 1 p.m. volume at a heavy 149,574 lots.

* Rising oil supports gold. U.S. crude oil initially rose above $80 a barrel, but has cut gains late in the session.

* Gold-to-oil ratio at 13.64, down from 13.67 in the previous session.

* Spot gold was at $1,087.15 per ounce at 1:50 p.m. EST (1850 GMT), up from $1,084.50 quoted late in the previous session in New York.

* London's afternoon gold fix at $1,090.

SILVER

* December silver ends up 22.5 cents, or 1.3 percent, at $17.405 an ounce, rising with gold.

* Range from $17.105 to $17.635.

* COMEX estimated 1 p.m. volume at 33,848 lots.

* Spot silver was at $17.34, versus $17.20 in the previous session in New York.

* London silver fix at $17.48.

PLATINUM

* January platinum finishes up $13.10 at $1,369.30 an ounce, up on improved sentiment after encouraging U.S. auto sales released late Tuesday.

* Spot platinum was at $1,360.50, compared with late previous session quote of $1,355.50 in New York.

PALLADIUM

* December palladium closes up $1.05 at $328.80 an ounce on platinum's gains.

* Spot palladium was at $325.50, compared with the previous session's close at $324.50.

Close Change Pct 2008 YTD

Chg Close % Chg US gold 1087.30 2.4 0.2 884.3 23.0 US silver (USA.V - news) 17.405 0.225 1.3 11.295 54.1 US platinum 1369.30 13.10 1.0 941.50 45.4 US palladium 328.80 1.05 0.3 188.70 74.2 Prices at 1:51 p.m. EST (1851 GMT) Gold 1086.90 2.40 0.2 878.20 23.8 Silver 17.34 0.14 0.8 11.30 53.5 Platinum 1360.50 5.00 0.4 924.50 47.2 Palladium 325.00 0.500 0.2 184.50 76.2 Gold Fix 1090.00 -1.75 -0.2 836.50 30.3 Silver Fix 17.48 113.00 6.9 14.76 18.4 Platinum Fix 1359.00 1.00 0.1 1529 -11.1 Palladium Fix 330.00 1.00 0.3 365.0 -9.6 (Reporting by Frank Tang; Editing by Christian Wiessner)