Gold and silver prices changed direction yesterday as they have moderately declined and thus broke a three business days rally; crude oil prices also finished yesterday with moderate falls; natural gas spot price (Henry Hub) on the other hand inclined.
Here is a summary of the price movements of precious metals and energy commodities for July 27th:
Oil and Gas prices:
WTI Spot oil price declined by 2.2% to $97.40 per barrel; during July the WTI spot oil price inclined by 2.2%.
Brent spot price also fell by 0.54% to $117.11 per barrel.
Due to these shifts the difference between Brent and WTI inclined to $19.71/bbl.
Natural gas Henry Hub future price (August delivery) declined by 1.14% to $4.32/mmbtu. The Henry Hub spot price on the other hand rose by 0.68% to $4.46/mmbtu; the gap between the spot and future price reached -$0.14, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 4.2%.
Precious Metals prices:
Gold price changed direction and fell yesterday by 0.12% to $1,617. Silver price also declined on Wednesday by 0.32% to reach $40.57.
During July, gold prices increased by 7.6% and silver price by 16.5%.
The EURO/ USD declined yesterday by 0.99%, as the USD appreciated against the EURO. During July the EURO/USD rose by 0.1% 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):
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For further reading:
Monthly Analysis and Outlook: