Gold and Silver Continued Their Descent –Recap March 6th

Gold and silver prices continued their downward trend and completed yesterday a three consecutive days in which both metals were traded down; crude oil prices also declined yesterday; on the other hand, natural gas future price slightly rose. The Euro sharply depreciated again against the US Dollar.

Here is a summary of the developments of precious metals and energy commodities for March 6th, 2012:

Precious Metals:

Gold price sharply decreased on Tuesday by 1.87% to $1,672.1; Silver price also sharply declined by 2.71% and reached $32.78. During March, gold decreased by 2.3% and silver by 5.37%. 

The Euro/USD was traded down by 0.80% to 1.3111; the U.S Dollar appreciated against many other exchange rates such as the Aussie dollar.

Oil and Gas:

WTI price also sharply decreased by 1.89% to $104.70 per barrel; Brent oil also decreased by 1.24% to $122.75 per barrel;

Due to these changes, the difference between Brent and WTI oil prices rose to $18.05/bbl. During the month, WTI slipped by 2.2% and Brent by 0.9%.

The Henry Hub future (April delivery) bounced back and rose by 0.43% to $2.36/mmbtu; the Henry Hub spot price fell to $2.30/mmbtu; the difference between the spot and future reached $0.06/mmbtu, i.e. Contango.

A Summary of Changes for March 6th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold price Silver Crude oil prices, Natural gas 2012 March 6

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