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    JM Bullion Gold and Silver Market Update (3/27/14)

    Gold Spot Price Open: $1,304

    Gold Spot Price Close: $1,292

    Change in Gold Spot Price: -$12

    Silver Spot Price Open: $19.86

    Silver Spot Price Close: $19.77

    Change in Silver Spot Price: -$0.09

    Gold and silver continued along their decline on Thursday as a lack of any bullish fundamental inputs continues to drive spot values downward. When all was said and done, gold lost more than ten dollars while silver lost just shy of ten cents.

    As has been the case for a majority of the week, the marketplace was not greeted with any new or exciting inputs that could give the ailing metals a boost. Instead, investors continue to focus on statements made by Janet Yellen to media last week. In her comments Ms. Yellen made it clear that she anticipated Quantitative Easing to be completely abandoned by the end of the year and that interest rates in the US may be risen as early as next spring. Though these comments were made more than a week ago at this point, investors are more readily concerning them with the long-term future in the absence of any news capable of moving metals in the short-term.

    The crisis in Ukraine continues to sit on the back burner, but is not being completely ignored by the market. The United States is heading the charge in attempting to isolate Russia from the rest of the world, and so far seems to be achieving its goal as Russia is set to post its slowest month on month economic growth in years. The isolation attempts are working to hurt the Russian economy, but will only end up infuriating a Russia that has a complete arsenal of nuclear weapons. Simply put, the ongoing war of words and sanctions may quickly escalate into threats of nuclear or military action, an event that could help give gold and silver a safe-haven boost.

    With that being said, however, Russia has not even alluded to the use of nuclear weapons or military force as an action against the United States or any of the other opposing EU countries. We will just have to wait and see how this situation develops over the next few weeks.

    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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