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    JM Bullion Gold and Silver Market Update (6/13/14)

    Gold Spot Price Open: $1,273

    Gold Spot Price Close: $1,277

    Change in Gold Spot Price: +$4

    Silver Spot Price Open: $19.56

    Silver Spot Price Close: $19.74

    Change in Silver Spot Price: +$0.18

    Gold and silver spot values edged higher for the second consecutive day this week to close out what has been an inordinately slow 5-day trading session. When all was said and done, gold picked up about 4 dollars while spot silver added just less than 20 cents.

    US and world equities were dealt a blow during Friday trading that saw metals move even higher, even flirting with new 3-week highs. Now, gold is swiftly approaching the $1,300 threshold while silver is trying its hardest to edge closer to $20. Safe-haven demand has made its way back to the marketplace and is another major reason behind why metals have performed so well over the course of the last few days.

    Violence in Iraq only seems to grow more severe with each passing day as it was reported that the militant group ISIS has moved even further southward. ISIS, also known as the Islamic State of Iraq and Syria is a militant group that is more or less a combination of quite a few Islamic militant groups. ISIS has thrived throughout the ongoing Syrian civil war and has grown to be a force to be reckoned with. Now, Iraqi security forces are finding it almost impossible to contain ISIS as the rebel group sets its eyes on the capital city of Baghdad. As violence in Ukraine did, the recent violence in Iraq is catching the attention of the wider marketplace and is helping drive safe-haven demand for precious metals.

    As we look ahead to next week it is already painfully obvious that the market will continue to keep its attention fixed on the growing violence in Iraq. Next week is already shaping up to be a bit more eventful than this one has proven to be and will bring about a few key economic reports from the US and abroad.

    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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