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    JM Bullion Gold and Silver Market Update (12/27/12)

    Gold Spot Price Open: $1,661

    Gold Spot Price Close: $1,665

    Change in Gold Spot Price:+$4

    Silver Spot Price Open: $29.97

    Silver Spot Price Close: $30.22

    Change in Silver Spot Price:+$0.25

    Gold and silver both improved a little bit on Thursday in the midst of a slower than usual week thanks to the holidays. Gold picked up about 4 dollars while silver gained a quarter.

    With everyone’s mind on the fiscal cliff and the potential damage it may have on them, few investment moves are being made until a deal is reached or we hear any amount of good news. While the fiscal cliff is weighing heavy on investor’s minds there is some good news to report because the unemployment rate is falling, as are weekly jobless claims.

    Japanese markets were soaring yet again on more news that their economy may improve because of a newly announced stimulus package. In addition to Japanese markets gaining strength, the USD is yet again showing signs of weakness this week.

    Tomorrow will wrap up the week and as long as gold keeps improving, even if it is only slightly, investors will remain happy; at least until we hear bad news about the fiscal cliff situation.

    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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