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    JM Bullion Gold and Silver Market Update (3/20/15)

    Gold Spot Price Open: $1,170

    Gold Spot Price Close: $1,184

    Change in Gold Spot Price: +$14

    Silver Spot Price Open: $16.18

    Silver Spot Price Close: $16.82

    Change in Silver Spot Price: +$0.64

    Precious metals capped off a solid end of week run with another round of impressive gains on Friday. When all was said and done, gold picked up nearly 15 dollars while silver gained just shy of 65 cents. Platinum and palladium also added value today, with both metals improving by more than ten dollars. For the first time in a few weeks, both gold and silver spot values are heading into the weekend having posted some solid gains, which is a good technical sign for investors.

    USD Index Hits Market Top, or So It Seems

    If you can recall to last week and the week prior to it, every day brought with it more news of a USD Index that was surging forward. Making massive gains against the Euro, no one was doubting the Dollar and interest in the greenback was growing constantly. This week, however, we found out that the Dollar is fallible and that it is not going to be on a strictly upward trajectory forever. The end of this week saw the USD Index lose significant value en route to posting a weekly loss.

    As for the USD’s impact on the precious metals market, the sell-off over the last few days has helped give metals ample room to move forward. As investors try to balance risk, the prospect of attaining more gold and silver is becoming a more obvious choice. Of course, with crude oil constantly threatening spot values, investor interest in metals is still far from robust.

    Greek Government Announces Reforms, Leaves Investors On Edge

    Greece’s new government, from the minute it took office, has been dead-set on instituting all sorts of reforms. Today, Greek government spokesman Gavriil Sakelaridis spoke publicly about a list of reforms that, in the next few days, will be submitted to European allies for review. In his comments, he addressed the lingering prospect of reforms being made to previously agreed upon austerity measures. To the surprise of almost everyone, however, Sakelaridis announced that the long list of reforms will not involve austerity measures at all. Though surprising, the fact that these reforms do not deal with austerity means that the marketplace almost immediately became disinterested.

    Looking ahead, however, I am sure that Greek austerity measures will be the topic of many, many headlines. This is especially true as talks regarding previously agreed upon bailout measures are bound to be picked back up within a month or two.

    Another story we may hear more of in the coming weeks is one regarding the possibility of Russia coming to the financial and economic aid of Greece, as opposed to the European Union. While most experts think that such an event will never come to fruition, that may change as Greece’s new government more desperately tried to regain control of its financial and economic situations. This is also a perfect way for Russia, a country currently at odds with most of the EU, to cause just a bit more of a stir across the European continent.

    Wrap-Up

    As was previously stated, both gold and silver spot values will be heading into the weekend posting weekly gains for the first time in a few weeks. As we look ahead to next week, investors will almost immediately focus their attention on the USD Index. Should the Dollar continue to slide, it is highly likely that precious metals will continue to climb. For gold, the $1,200/threshold is once again in sight, and many think that it could be crossed by Wednesday of next week, if not sooner.

    Disclaimer: All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.

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