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    JM Bullion Gold and Silver Market Update (4/13/15)

    Gold Spot Price Open: $1,208

    Gold Spot Price Close: $1,200

    Change in Gold Spot Price: -$8

    Silver Spot Price Open: $16.52

    Silver Spot Price Close: $16.34

    Change in Silver Spot Price: -$0.18

    After some decent gains on Friday, metals were pushed back downward to start out this new week of trading. When all was said and done, gold lost about 8 dollars while silver was down by more than fifteen cents. Platinum and palladium also spent most of the day conceding value, though platinum’s losses were much more significant than those of palladium’s.

    Currency Markets Still In Focus

    As was the case for most of last week, both gold and silver gave way to a stronger US Dollar. The USD Index, which measures the greenback against a basket of rival currencies, is back on the up and up and is only seeming to get stronger with each passing day. Though barely more than a week ago it was widely believed that the USD would be unable to move much higher, last week’s more hawkish FOMC minutes gave the Dollar enough room to move forward. Now, the USD is continuing to move forward while the Euro currency is slowly but surely approaching a fresh 12-month low.

    For gold and silver, the Dollar’s recent moves forward have made it extremely difficult for spot values to do anything other than decline. As this week plays out and more economic data is made public, it will be interesting to see what direction metals head in. If US economic data is as upbeat as it is expected to be, I am not so sure metals will have such a great week. Of course, anything can happen between now and Friday, so we will just have to wait and see how things play out.

    Downbeat Chinese Data Does Metals No Favors

    During the overnight hours, an economic report from China was made public and indicated that both exports and imports were down on an annualized basis in March. Officially, Chinese exports decreased by 15% on an annualized basis while imports fell by more than 12%. For gold and silver, this and most other poor Chinese economic data is an underlying bearish factor.

    Through the first quarter of 2015, China’s economic data has been far from upbeat. While it is still expected that China will have a great 2015 when all is said and done, early indications are anything but bright. Crude oil finished Monday a bit lower and has recently been a bit unpredictable. Despite recovering from healthy losses incurred a few months ago, the value of crude oil has not made a complete recovery and is recently been acting as a weight on the value of metals. As the week plays out, it will be interesting to see if crude oil can recover any more ground.

    Wrap-Up

    As if it wasn’t already painfully clear, the first trading day of this week was very, very quiet. Though we are anticipating the release of a good quantity of economic data this week, today offered a bit of an exception. Looking ahead, we are seeing the market gear up for a good bit of economic data that will be made public over the course of the next four days. For now, however, the data is expected to be upbeat–something that may not necessarily contribute to further losses on the part of gold and silver.

    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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