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    JM Bullion Gold and Silver Market Update (4/28/14)

    Gold Spot Price Open: $1,305

    Gold Spot Price Close: $1,296

    Change in Gold Spot Price: -$9

    Silver Spot Price Open: $19.78

    Silver Spot Price Close: $19.66

    Change in Silver Spot Price: -$0.12

    Gold and silver slipped slightly on Monday due to a technical correction after last Friday’s gains. When all was said and done on Monday, gold lost about 9 dollars while silver was down by a little more than ten cents.

    Tensions across Ukraine did not increase too much over the weekend, but they didn’t do much in the way of deescalating either. Pro-Russian rebels reportedly took western military observers hostage over the weekend and proceeded to display them on TV cameras proudly. The rebels remain in control of many cities and towns across Ukraine’s eastern half and are refusing to simply lay down their arms. The Ukrainian military is still mostly refraining from engaging the rebels as the Russian military continues to build up its presence along the border with Ukraine. Over the last few days, Russian military exercises saw aircraft violate Ukrainian airspace on a number of occasions. The US has placed more economic sanctions on Russia, but they have done little in the way of altering how the Kremlin is going about handling the crisis in Ukraine’s eastern half.

    Investors may take a brief break from watching the situation in Ukraine as the FOMC is scheduled to meet for their monthly policy meeting tomorrow and Wednesday. In fact, this week is shaping up to be fairly busy from a US economic standpoint as the latest GDP data is due out on Wednesday and the latest jobs figures on Friday. On top of all that, there is important Chinese manufacturing data due out on Thursday. This data will be of particular interest to investors after last week’s poor manufacturing data was made public. China’s economy is increasingly coming under scrutiny after it has posted continuously poor data for a majority of this year thus far.

    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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