fyi

Gold bounced higher after posting its biggest fall in a month in the previous session, shrugging off falls in exchange traded fund holdings and gaining support on inflation concerns in major gold buyer China.

Silver was within sight of its highest level in more than three decades, with the gold-to-silver ratio at a 28-year low

Spot silver rose 11 cents to $US40.15 an ounce, still below a 31-year high at $US41.93 struck on Monday. Dealers said India had showed steady interest in silver since early this year, although it was not clear whether the metal was now used a substitute to gold. India is in the midst of the wedding season, when parents give jewellery, mostly gold, to other daughters.

IShares Silver Trust said its holdings fell to 11,212.53 tonnes by April 12 from a record of 11,242.89 tonnes hit on April 8. US gold futures for June rose $US2.4 an ounce $US1456 an ounce.

http://www.smh.com.au/business/markets/gold-bounces-back-on-china-inflation-concerns-20110413-1dcwy.html