Gold and silver ended the week rising –July 22

Gold and silver prices bounced back from the three day falls and finished the week with sharp gains; crude oil prices also finished the week with moderate rises; natural gas spot price (Henry Hub) on the other hand declined.

Here is a summary of the price movements of precious metals and energy commodities for July 22nd:

 Precious Metals prices:

Gold price bounced back and inclined yesterday by 0.91% to $1,601. Silver price also inclined on Friday by 3.02% to reach $40.12.

During July, gold prices increased by 5.6% and silver price by 11.8%.

The EURO/ USD changed direction and fell by 0.45%, as the USD appreciated against the EURO. During July the EURO/USD fell by 1% compared with the rate at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price added 0.74% to its value yesterday and settled at $99.64 per barrel; during July the WTI spot oil price inclined by 4.4%.

Brent spot price also rose by 0.54% to $118.29 per barrel.

Due to these shifts the difference between Brent and WTI slightly fell to $18.65/bbl.

Natural gas Henry Hub future price (August delivery) inclined by 0.23% to $4.40/mmbtu. The Henry Hub spot price on the other hand fell by 2.62% to $4.46/mmbtu; the gap between the spot and future price rose to -$0.06, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 4.2%.

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):

 Current Gold price and Silver prices Crude spot oil prices, Natural gas spot price 2011 July 22


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Monthly Analysis and Outlook: