Gold and silver continue their rally| Oil prices declined –July 14

Gold price continues to rise and reach new highs; Silver price also finished the day with rises; Crude oil price shifted direction again and finished the day with falls; natural gas price also fell.    

Here is a summary of the price movements of precious metals and energy commodities for July 14th:

 Precious Metals prices:

Gold price keeps on rising. Yesterday it inclined for the eighth straight business day by 0.24% to $1,589 – the highest price level in 2011. Silver price also inclined yesterday by 1.42% to reach $38.69 – the highest price level since May 4th 2011.

During July, gold prices increased by 5.8% and silver price by 11.1%.

The EURO/ USD changed direction and fell by 0.18%, as the USD appreciated against the EURO. During July the EURO/USD fell by 2.5% compared with the rate at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price continues to zigzag and fell yesterday by 2.41% to $95.69 per barrel; during July the WTI spot oil price inclined by 0.3%.

Brent spot price also declined by 0.6% to $116.89 per barrel.

Due to these shifts the difference between Brent and WTI inclined to $21.20/bbl.

Natural gas Henry Hub future price (August delivery) decreased yesterday by 0.91% to $4.37/mmbtu. The Henry Hub spot price also subtracted 0.23% of its value and settled at $4.42/mmbtu; the gap between the spot and future price fell to -$0.05, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 3.3%.

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 14


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Monthly Analysis and Outlook: