PRECIOUS-Gold hits record above $1,095/oz as dollar wilts

* Technical momentum builds after Indian gold acquisition * Dollar weakens ahead of Fed, adding to upward pressure * Palladium rises 2 percent, lifted by gold, fundamentals

(Updates throughout, previous TOKYO)

By Jan Harvey

LONDON, Nov 4 (Reuters) - Gold hit record highs above $1,095 an ounce on Wednesday as dollar weakness added to momentum lent to the market by India's purchase of 200 tonnes of gold from the IMF to push prices through key technical resistance levels.

Gold is now poised to target the psychological $1,100 an ounce level, dealers said. For graphic on gold's rise, click on: here

Spot gold struck a high of $1,095.05 an ounce and was bid at $1,093.55 an ounce at 1055 GMT, against $1,084.50 late in New York on Tuesday.

U.S. gold futures on the COMEX division of the New York Mercantile Exchange also hit record highs at $1,096.20 an ounce.

"At the moment, there is technical buying on the back of yesterday's rally in the aftermath of the IMF/India transaction," said Alexander Zumpfe, a trader at Heraeus.