FB: old hits record near $1,200/oz as dollar slips
MARKETS-PRECIOUS (UPDATE 3):PRECIOUS-Gold hits record near $1,200/oz as dollar slips
* Price resilience after Friday's dip cheers investors * SPDR gold ETF holdings rise more than 2 tonnes
(Updates throughout, changes dateline from TOKYO)
By Jan Harvey
LONDON, Dec 1 (Reuters) - Gold hit record highs near $1,200 an ounce on Tuesday as dollar weakness fuelled buying of the metal as an alternative asset, while investors speculating on further gains were cheered by its recovery from Friday's lows.
Spot gold hit a peak of $1,198.70 an ounce and was bid at $1,194.90 an ounce at 1021 GMT, against $1,179.10 late in New York on Monday.
"The fact that we are seeing the dollar weaken is helping to drive gold," said Ole Hansen, senior manager at Saxo Bank.
