Answer:
Often held but never touched. Always wet but never rusts. Often bits but seldom bit. To use it well you must have wit.
This is needed both for courage and hardcover books.
Today he is there to trip you up. And he will torture you tomorrow. Yet he is also there to ease the pain, when you are lost in grief and sorrow.
A red drum which sounds without being touched, and grows silent, when it is touched.
I am the hole in the night, the ever watchful eye. I return in a cycle, to enlighten the sky.
What can never be put in a saucepan?