LONDON (Reuters) - Gold slipped toward $1,100 an ounce in Europe on Thursday after the IMF's announcement that it was opening up a planned sale of 191.3 tonnes of bullion to the open market, and as the dollar strengthened. The IMF said it will soon begin sales of the remainder of the 403.3 tonnes of bullion it approved for sale in 2008 on the open market. Earlier sales have been made off-market, most notably to India, but also to Sri Lanka and Mauritius. Spot gold was bid at $1,103.90 an ounce at 1013 GMT, against $1,106.00 late in New York on Wednesday. In that session gold touched a one-month high of $1,126.85 an ounce, while euro-priced gold hit a record 823.04 euros an ounce. The IMF announcement and dollar strength have since pressured prices from those highs. Analysts say the fact the gold has not been snapped up by central banks since it became available for sale could weigh on sentiment. "Since India bought a big chunk of gold in October last year, (the gold) has been out there for sale and nothing has happened," said Saxo Bank senior manager Ole Hansen. "It could be viewed quite negatively that central banks, who obviously would have been favored as buyers for the remaining gold, have found current (price) levels unattractive," he added. "That has put the market a bit under pressure." The IMF said the open-market sales "will be conducted in a phased manner over time" to avoid disruptions to the gold market. The Fund added that the door was still open for central banks to keep buying gold directly from it. Sri Lanka's central bank governor said his bank was unlikely to buy more gold from the IMF right now as the island nation has already reached its required reserve level. Analysts added that the downward price move in gold on Thursday morning has been relatively subdued, given the metal's hefty gains earlier in the week. DOLLAR STRENGTHENS Gold was also pressured by fresh strength in the dollar, which rose toward a seven-month high versus a currency basket after the minutes of the Federal Reserve's January policy meeting showed officials discussed strategies for withdrawing monetary stimulus. The dollar had already benefited on Wednesday from stronger than expected U.S. data. "Any signs of a rapid improvement in the U.S. economy are supportive for the U.S. dollar, as it heightens future inflation risks and calls for action from the Fed," said VTB Capital analyst Andrey Kryuchenkov in a note. Strength in the U.S. unit curbs gold's appeal as an alternative asset and makes dollar-priced commodities more expensive for holders of other currencies. The stronger dollar pressured other commodities, with oil prices falling more than $1 a barrel to their lows. Gold tends to track crude prices, as the metal can be bought as a hedge against oil-led inflation. Investment demand remained lackluster, with the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust, reporting no change to its holdings on February 17. Among other precious metals, silver was bid at $15.81 an ounce against $15.84, platinum was at $1,510.50 an ounce against $1,524.50, and palladium was at $427 against $433.50. Impala Platinum (IMPJ.J), the world's second largest platinum miner, said its output rose 2 percent to 895,000 ounces in the first half of the year, and reiterated plans to grow output to 2.1 million ounces a year by 2014. (Reporting by Jan Harvey; Editing by Keiron Henderson)

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