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    JM Bullion Gold and Silver Market Update (3/7/13)

    Gold Spot Price Open: $1,576

    Gold Spot Price Close: $1,580

    Change in Gold Spot Price: +$4

    Silver Spot Price Open: $28.81

    Silver Spot Price Close: $28.91

    Change in Silver Spot Price:+$0.10

    Both gold and silver remained relatively even on Thursday as a quiet day for investors meant little movement for precious metals. When all was said and done gold was up roughly 4 dollars while silver picked up just ten cents.

    While there was not much market-relevant news to report today, many believe that with the release of February’s US jobs data tomorrow will cause metals to make some sort of move. The fact that this report is coming out tomorrow is a large part of the reason gold and silver moved very little today. People are waiting to see what the unemployment situation in the US is looking like and based on that data they will determine what investment moves to make going forward.

    Gold, in other parts of the world, is doing very well because citizens of certain countries are turning to the yellow metal to safeguard against their nation’s falling currency values. Countries like Japan, Brazil, and India are seeing a large increase in consumer spending on precious metals in light of their money becoming more and more invaluable.

    Japan is a primary focus for many investors because they and their newly initiated government regime have set forth monetary policy that is unlike any other in Japanese history. Investors are reacting decisively and purchasing increasingly large quantities of gold. Stay tuned tomorrow for what is bound to be an exciting conclusion to this week.

    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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