Major commodities continue to zigzag: they changed direction again and after they had decreased on Tuesday, major commodities prices rose on Wednesday. Crude oil prices including both WTI and Brent bounced back on Wednesday. Gold and silver prices didn’t do much as gold edged down while silver rose yesterday. Natural gas Henry Hub (August delivery) also hiked. The Euro slipped against the USD. Several other currencies rates including the Aussie dollar rose against USD.
Here is a summary of the daily changes in precious metals and energy commodities for July 11th, 2012:
Forex and Bullion Markets:
Gold declined again by 0.26% to $1,575.7; Silver increased by 0.52% and reached $27.02. During July, gold decreased by 1.78% and silver by 2.13%.
The Euro/USD edged down by 0.09% to 1.2239; further, the U.S Dollar fell against several currencies such as Aussie dollar by 0.6%.
Energy Commodities:
WTI oil price bounced back yesterday by 2.26% to $85.81 per barrel;
Brent oil also increased by 2.31% to $100.4 per barrel;
Following these changes, the difference between Brent and WTI reached $14.59/bbl. During the month, WTI fell by 1% while Brent oil rose by 3.5%.
Finally, the Henry Hub future (August delivery) hiked by 4.4% to $2.85/mmbtu; the Henry Hub spot decreased to $2.72/mmbtu; the difference between the spot and future reached $0.13, Contango.
A Summary for July 11th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: