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Gold and silver prices April 29, 2011
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MARKET ROUNDUP

Precious metals soared to another record high on Thursday, as a falling dollar and signs that the Federal Reserve would maintain a loose monetary policy boosted precious metals appeal as a hedge against inflation and economic uncertainty.

IN FOCUS

- Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange traded fund, stood at 1,229.64 tonnes by April 28, remains unchanged from the previous business day.



- Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 11053.20 tonnes by April 28, remains unchanged from the previous business day.

- The explosive growth of precious metalslinked exchange traded funds has prompted some market watchers to warn that those shiny investment vehicles could increase the speed and depth of a future crash.

FUNDAMENTAL OUTLOOK

Precious metals are trading higher today. We expect a further rise in the prices of precious metals on account of a weaker dollar overseas.

sources: http://www.stockmarketsreview.com/commodity
/gold_and_silver_daily_review_20110429_136876/