PRECIOUS-Silver hits 31-year high, iShares Silver at record

                                
 SINGAPORE, April 5 (Reuters) - Silver jumped to its highest
since early 1980 on Tuesday on inflation concerns and a rise in
ETF holdings to another record, while gold edged down as the
euro held below this week's five-month high versus the dollar.	
                                
 	
                                
 FUNDAMENTALS	
                                
 * Spot silver rose as high as $38.72 an ounce and was
quoted at $38.68 an ounce by 0046 GMT, up 26 cents. Gold 
eased 45 cents to $1,436.10 an ounce. 	
                                
 * U.S. gold futures for June rose $4.5 an ounce to
$1,437.5 an ounce.	
                                
 * IShares Silver Trust said its holdings rose to
another record at 11,162.45 tonnes by April 4 from 11,139.52
tonnes on March 24. [ID:nL3E7F5019]	
                                
 * Analysts remain wary of silver's extreme volatility, which
has led to some heart-stopping reversals in recent years. When
commodities sold off heavily in mid-March, silver dropped nearly
5 percent in a single day, versus gold's 2 percent fall.
[ID:nLDE7331DB]	
	
                                
 MARKET NEWS	
                                
 * The euro held below this week's five-month high against
the dollar and 11-month peak versus the yen on Tuesday as
investors paused to assess how much it can make in fresh gains
given that expectations for interest rate rises have largely
been priced in. 	
                                
* Japan's Nikkei nudged higher on Tuesday, but was set to
trade in a tight range for a third day, as the post-quake
rebound looks to have run its course, with resource-related
shares climbing on surging commodity prices. 	
                                
* Oil prices rose to their highest since 2008 on Monday, with
Brent surging above $121 a barrel as Nigerian election delays
and a short-lived strike in Gabon joined a list of geopolitical
supply concerns. 	
 	
                                
DATA EVENTS (GMT)	
                                
0430 Australia RBA cash rate Apr 2011    0758 EZ
Markit Services PMI Mar 2011    1145 U.S. ICSC
chain stores yy Weekly    1400 U.S. ISM N-Mfg PMI
Mar    1400 U.S. ISM N-Mfg Bus Act Mar 
                                
	
 Precious metals prices 0046 GMT
 Metal             Last    Change   Pct chg  YTD pct chg  Turnover
 Spot Gold        1436.10   -0.45    -0.03      1.17
 Spot Silver        38.68    0.26    +0.68     25.34
 Spot Platinum    1783.99    4.54    +0.26      0.93
 Spot Palladium    784.25    4.75    +0.61     -1.91
 TOCOM Gold       3901.00   24.00    +0.62      4.61        19151
 TOCOM Platinum   4870.00    58.00   +1.21      3.71         6178
 TOCOM Silver      105.00    1.90    +1.84     29.63         1333
 TOCOM Palladium  2138.00    31.00   +1.47      1.96          111
 Euro/Dollar       1.4212
 Dollar/Yen         84.29
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
  	
 (Reporting by Lewa Pardomuan; Editing by Himani Sarkar)	
 	
 	
 	
                                
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