Gold and Silver Plummeted on Wednesday –Recap April 4th

Gold and silver prices changed direction; following the recent FOMC minutes release, they have taken a sharp turn down just like many other commodities prices including crude oil prices. During yesterday’s trading natural gas spot prices sharply rose again. The Euro slipped again against the U.S. dollar.

Here is a summary of the changes in precious metals and energy commodities for April 4th, 2012:

Precious Metals:

Gold price plummeted yesterday by 3.46% to $1,614.1; Silver price also tumbled by 6.68% and reached $31.04. During April, gold fell by 3.46% and silver declined by 4.43%.

The Euro/USD also declined yesterday by 0.69% to 1.3142; furthermore, the U.S Dollar also appreciated against other exchange rates such as the Canadian dollar.

Oil and Gas:

WTI price also plummeted by 2.44% to $101.47 per barrel; Brent oil also decreased by 2.02% to $122.45 per barrel;

Despite these changes, the difference between Brent and WTI oil prices nearly didn’t change and settled at $20.98/bbl. During the month, WTI slipped by 1.5% and Brent oil by 1.1%.

The Henry Hub future (May delivery) decreased by 2.28% to $2.14/mmbtu; the Henry Hub spot price sharply rose to $2.06/mmbtu; the difference between the spot and future reached $0.08/mmbtu, i.e. Contango.

A Summary of Changes for April 4th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 April 4

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