Gold was rising again with the story the continued surge of money into exchange traded funds backed by the metal.
Inflows over the past two have Totalled 50 tons or the sharpest two-day inflow since the Greek crisis first flared up in May 2010, said Commerzbank.
That equates to roughly six days of global gold mining production, the German broker added.
Already this month more gold has meanwhile flowed into the ETFs than was withdrawn in the whole of last year.
Total holdings have also risen to 1,665 tons, their highest level in nearly a year.
“ETF investors, who are generally regarded as having a longer term horizon, clearly view the current price level as an attractive opportunity to buy,” said Commerzbank adding this ETF interest should help the gold price.
More reports coming out of India, though, suggest consumer interest there is waning as the price has recovered.
India is normally gold mad but purchases are heading for a two-year low this month.
Stories from India are of discount of up to US$50 per ounce being offered to entice buyers, but with little success though the imminent Budget may have something to do with this.
Buyers may be waiting in the hope there may be some reduction in the 10% import tax.
Two hours into US trading spot gold was US$17 higher at US$1,226. Silver rose to US$15.28 while platinum gained US$15 to US$938.
Major share moves
Randgold Resources up 150p to 6,520p
Fresnillo up 17p to 977p
Anglo American down 33p to 450.2p