Gold and Oil started off the week with sharp rises–July 5

Major commodities prices started the week with sharp rises including crude oil prices (WTI and Brent oil), gold prices, silver prices, and natural gas spot price.   

Here is a summary of the price movements of precious metals and energy commodities for July 5th:

 Oil and Gas prices:


WTI Spot oil price inclined by 2.05% to $96.89 per barrel; during July the WTI spot oil price rose by 1.5%.

Brent spot price also inclined by 1.93% to $113.53 per barrel.

Due to these changes the difference between Brent and WTI inclined to $16.64/bbl.

Natural gas Henry Hub future price (August delivery) inclined by 1.16% to $4.36/mmbtu. The Henry Hub spot price also increased by 1.85% to $4.40/mmbtu; the gap between the spot and future price fell to -$0.04, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 2.8%.

 Precious Metals prices:

Gold price bounced back from its fall on Friday and increased by 2.03% to $1,512. Silver price also increased by 5.06% to $35.41.

During July, gold prices increased by 0.7% and silver price by 1.7%.

The EURO/ USD declined yesterday by 0.67%, as the USD appreciated against the EURO. During July the EURO/USD fell by 0.5% compared with the rate at the beginning of the month.

 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 1


 For further reading:


Monthly Analysis and Outlook: