Toslink versus HDMI for two channel audio

I am using a bluray player as a transport for cd's to play through an Arcam AVR 400. I have both an inexpensive HDMI with some silver plating on the conductors and an inexpensive glass Toslink optical cable hooked up and can switch back and forth between them. I can tell a difference in the sound, barely, with the wire cable sounding a bit smoother and the optical cable sounding a bit sharper. My question to you all is do you think an HDMI cable with more silver would result in a bigger overall improvement in sound quality than a higher quality glass cable. Seems to me a compromise either way with inherent limitations on optical conversion on the one hand, and the compromise in overall design inherent in HDMI cables, IE they are complex and optimized for both audio and video signal transmission.

Trying to learn from others experience here rather than buying and trying a bunch of both kinds of cables. Thanks in advance.

Toslink offers the most "jitter" of all digital links. That's why the upper end is sharp. I would guess that any improvement in a quality HDMI cable, would be a clear choice over toslink.
Basically, any 1.3 or 1.4 compliant HDMI cable will be a huge upgrades over almost any toslink. I've blue jeans cables at about $25 per and they're terrific.