VINACHEM

Central banks, the world’s biggest holders of gold,continued to buy bullion in April as Turkey raised its reservesby 29.7 metric tons and Ukraine, Mexico and Kazakhstan boostedtheir holdings, International Monetary Fund data show.

“Reports about central banks buying are helping gold,” Frank McGhee, the head dealer at Integrated Brokerage ServicesLLC in Chicago, said in a telephone interview. “We are alsoseeing some technical buying.”

Gold futures for June delivery rose 0.6 percent to settleat $1,557.50 an ounce at 1:46 p.m. on the Comex in New York.Prices have slumped 6.4 percent this month.

Holdings in the SPDR Gold Trust, the biggest bullion-backedexchange-traded fund, expanded 0.2 percent to 1,268.15 tonsyesterday, after sliding 17.5 tons on May 22, the biggest suchdrop since Aug. 24, according to figures on the company’swebsite.

“Gold ETF investors have responded with remarkable calm tothe price turbulences,” Commerzbank AG said in a report today.“A number of them already appear to be taking advantage of theweak price to expand their positions.”

Silver futures for July delivery jumped 2.3 percent to$28.157 an ounce on the Comex, the first gain since May 18.

On the New York Mercantile Exchange, platinum futures forJuly delivery advanced 0.6 percent to $1,422.40 an ounce, thebiggest gain since May 17. Palladium futures for June deliveryslipped 0.6 percent to $587.50 an ounce, after touching $584.25,the lowest since Nov. 30.