PRECIOUS-Gold hits record above $1,120 on weak dlr

* Gold hits record in six of last eight sessions

* SPDR Gold Trust (GLD) holdings unchanged on Wed

By Risa Maeda

TOKYO, Nov 12 (Reuters) - Gold hit a record high on Thursday
for the second straight day as investors focused on the precious
metal's appeal as a hedge against a weakening dollar.

Risk tolerance was also increasing after strong factory
output data from China pointed to a strengthening global economy,
boosting commodities prices and another factor supporting the
precious metal.

Gold is often seen as a hedge against energy price-led
inflation.

"The euro clawed back above $1.500 and oil steadied near $80
(a barrel). Japanese stocks are extending their gains. Everything
looks good for gold," said Shuji Sugata, a manager at Mitsubishi
Corp Futures' research team.

Spot gold XAU= stood at $1,119.35 an ounce as of 0059 GMT
after rising to a record $1,120.30, compared with New York's
notional close of $1,117.45..

Bullion has now renewed record highs for six out of the past
eight sessions.

U.S. gold futures for December delivery GCZ9 traded at
$1,121.00 an ounce. The contract earlier rose to a fresh record
of $1,121.20.

But interest in gold exchange-traded funds remained soft,
with holdings of the largest bullion-backed ETF, New York's SPDR
Gold Trust (GLD), at 1,114.443 tonnes on Wednesday, unchanged
since Nov. 9. [GOL/SPDR]
Precious metals prices at 0110 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1120.20 2.75 +0.25 27.27
Spot Silver 17.70 0.13 +0.74 56.36
Spot Platinum 1377.00 9.00 +0.66 47.75
Spot Palladium 345.50 4.00 +1.17 87.26
TOCOM Gold 3248.00 40.00 +1.25 26.23 48700
TOCOM Platinum 3994.00 69.00 +1.76 50.60 6817
TOCOM Silver 512.50 10.80 +2.15 60.51 200
TOCOM Palladium 1001.00 38.00 +3.95 82.00 469
Euro/Dollar 1.5010
Dollar/Yen 89.87
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Editing by Chris Gallagher)