Gold and Silver Changed Direction and Fell – Recap February 27th

Major commodities were traded in a mixed trend on the third business day of the week: the price of Brent oil declined while WTI oil slightly rose on Wednesday; natural gas Henry Hub future (short term delivery) also inched up yesterday; silver and gold changed direction and fell on Wednesday; the Euro on the other hand increased against the USD on Wednesday. Moreover, some other currencies such as the Aussie dollar also slightly rose against the US dollar.

Here is a summary of the daily changes of precious metals and energy commodities for February 27th, 2013:

Forex and Bullion Markets:

On Wednesday, gold decreased by 1.23% and reached $1,595; silver also declined by 1.08% to $28.94. During the month, gold decreased    by 3.94%; silver, by 7.63%.

On Wednesday, the Euro/USD rose by 0.6% to 1.3139; the U.S Dollar also slightly depreciated against several currencies such as Australian  dollar by 0.05%.

Energy Commodities:

WTI oil price edged up by  0.14% to $92.76 per barrel; Brent oil on the other hand declined by 0.75% to $111.87 per barrel;

Thus, the gap between Brent and WTI contracted again to $19.11/bbl. During February, WTI decreased by 4.85%; Brent oil, by 3.18%.

Finally, the Henry Hub future (short term delivery) inched up again yesterday by 0.2% to $3.43/mmbtu.

A Summary for February 27th:

The table below includes: closing rates, daily percent shifts, and daily changes:

Gold Silver Crude oil Natural gas 2012 Feb 27

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