The FOMC extended operation twist for the rest of the year but didn’t announce any additional QE program. The Fed also lowered its economic projection of the U.S economy. This news didn’t help commodities prices as many of them declined. Gold price fell on Wednesday while silver edged up. Crude oil price (WTI) changed direction again and tumbled down yesterday Natural gas Henry Hub (July delivery) also declined while the spot price edged up. The Euro appreciated again against the USD. Several other exchange rates such as the Aussie dollar also appreciated.
Here is a summary of the daily changes in precious metals and energy commodities for June 20th, 2012:
Forex and Bullion Markets:
Gold fell by 0.46% to $1,615; Silver edged up by 0.07% and reached $28.39. During the month, gold rose by 3.3% and silver by 2.28%.
The Euro/USD rose by 0.17% to 1.2707; furthermore, the U.S Dollar also depreciated against several currencies such as Australian dollar by 0.05%.
WTI oil price plunged yesterday by 2.65% to $81.8 per barrel;
Brent oil on also fell by 3.58% to $92.14 per barrel;
Following these shifts, the difference between Brent and WTI declined to $10.34/bbl. During the month, WTI decreased by 5.47% and Brent oil by 9.7%.
Finally, the Henry Hub future (July delivery) fell by 1.18% to $2.52/mmbtu; the Henry Hub spot increased to $2.61/mmbtu; the difference between the spot and future decreased to -$0.09, Backwardation.
A Summary for June 20th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: