Crude oil and gold prices finished the day rising–July 7

Gold and silver prices continued to rise and increased for the third straight day; crude oil prices bounced back and also finished the day with rises; natural gas prices on the other hand continue to fall.    

Here is a summary of the price movements of precious metals and energy commodities for July 7th:

 Precious Metals prices:

Gold price kept on rising and finished yesterday with a 0.09% to $1,530 – the highest price level since June 22nd. Silver price also increased by 1.51% to $36.46.

During July, gold prices increased by 1.8% and silver price by 4.7%.

The EURO/ USD bounced back from recent falls and following the ECB rate decision it rose by 0.31%, as the USD depreciated against the EURO. During July the EURO/USD fell by 1.0% compared with the rate at the beginning of the month.

 Oil and Gas prices:

WTI Spot oil price continues to zigzag and rose yesterday by 2.07% to $98.67 per barrel; during July the WTI spot oil price rose by 3.4%.

Brent spot price also sharply inclined by 4.28% to $118.41 per barrel.

Due to these changes the difference between Brent and WTI inclined to $19.74/bbl.

Natural gas Henry Hub future price (August delivery) sharply fell again by 1.83% to $4.14/mmbtu. The Henry Hub spot price decreased by 2.3% to $4.24/mmbtu; the gap between the spot and future price fell to -$0.10, i.e. backwardation. During July, natural gas spot price (Henry Hub) declined by 0.9%.

A summary of yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Crude spot oil prices, Natural gas spot price, Current Gold and Silver prices 2011 July 7


 For further reading:

Monthly Analysis and Outlook: