NEW YORK, Nov 27 (Reuters) - U.S. gold futures ended 1 percent lower in heavy volume on Friday but were well above session lows as flight-to-quality demand offset fears of debt default in Dubai.

 GOLD
* COMEX December gold GCZ9 settled down $12.80, or 1.1 percent, at $1,174.20 an ounce on the COMEX division of NYMEX.
* Ranged from $1,130.10 to $1,195 -- an all-time high.
* US gold market opened sharply lower on Dubai debt worries after
Thursday's Thanksgiving holiday. [ID:nGEE5AQ13P]
* Inflationary expectations could be tamed if credit problems slow global growth - BMO's Bart Melek.
* Graphic on relative performance of gold, copper, oil and equities amid Dubai debt fears:here
* Bullion supported by safe-haven appeal amid sharply lower commodities across the board. RJ/CRB index down 2 percent.
* Gold pummeled in dollar terms as it becomes a source of capital drawn to defend stressed equity positions - Dennis Gartman.
* Wall Street falls over 1 percent as investors cut exposure to risky investments, rallying from session lows.
* Dollar pares initial gains, lifting metals off session lows.
* Investor sentiment firm after Wednesday news that Sri Lanka acquired gold from the IMF, and report that India is open to buy more IMF gold.
* Gold-to-oil ratio at 15.44, up from the previous session's 15.25, as oil tumbles nearly $3 a barrel.
* COMEX estimated midday volume at a very heavy 380,431 lots due to Thanksgiving holiday and December-February contract rollover.
* COMEX closed early at 12:30 p.m. after a shortened post-Thanksgiving session.
* Spot gold XAU= at $1,176.10 an ounce at 12:53 p.m. EST (1753 GMT), compared with $1,192.60 late in the previous session in New York.
* London's afternoon gold fix XAUFIX= at $1,166.50 an ounce.

 SILVER
* December silver SIZ9 ends down 46.6 cents, or 2.5 percent, at $18.302 an ounce, tracking gold's weakness.
* Ranged from $17.700 to $18.900.
* Silver, platinum group metals could face selling pressure after recent buildup of speculative positions - Gartman.
* COMEX estimated midday volume at 77,317 lots.
* Spot silver XAG= was at $18.25, against $18.61 in the previous session in New York.
* London silver fix XAGFIX= at $17.98.

 PLATINUM
* January platinum PLF0 finishes down $32.40, or 2.2 percent, at $1,447.10 an ounce, weighed down by a metals sell-off.
* Spot platinum XPT= $1,440.50 an ounce.

 PALLADIUM
* December palladium PAZ9 closes down $5.25, or 1.4 percent, at $365.70 an ounce, tracking platinum's decline.
* Spot palladium XPD= $362.50 an ounce.

                     Close Change Pct 2008 YTD

                                     Chg Close % Chg

US gold GCZ9 1174.20 -12.8 -1.1 884.3 32.8
US silver SIZ9 18.302 -0.466 -2.5 11.295 62.0
US platinum PLF0 1447.10 -32.40 -2.2 941.50 53.7
US palladium PAZ9 365.70 -5.25 -1.4 188.70 93.8
Prices at 12:46 p.m. EST (1746 GMT)
Gold XAU= 1175.85 -16.75 -1.4 878.20 33.9
Silver XAG= 18.31 -0.30 -1.6 11.30 62.0
Platinum XPT= 1445.00 -7.00 -0.5 924.50 56.3
Palladium XPD= 362.50 -5.500 -1.5 184.50 96.5
Gold Fix XAUFIX= 1166.50 2.00 0.2 836.50 39.5
Silver Fix XAGFIX= 17.98 -51.00 -2.8 14.76 21.8
Platinum Fix XPTFIX= 1426.00 7.00 0.5 1529 -6.7
Palladium FixXPDFIX= 358.00 2.00 0.6 365.0 -1.9

 (Reporting by Frank Tang; editing by John Picinich)
((frank.tang@thomsonreuters.com; +1 646 223 6126; Reuters Messaging:
frank.tang.reuters.com@reuters.net))
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