Oil and gold prices tumbled down yesterday –June 23

Major commodities across the board including gold, silver natural gas and crude oil tumbled down yesterday. See here for the daily analysis on crude oil and on gold and silver prices for the suggested reasons for these sharp falls.

Here is a summary of the price movements of precious metals and energy commodities for June 23rd:

Oil and Gas prices:

WTI Spot oil price tumbled down by 4.59% yesterday to $90.65 per barrel; during June the WTI spot oil price fell by 11.7%.

Brent spot price also fell yesterday by 4.2% to $109.09 per barrel.

Despite these falls the difference between Brent and WTI remained high at $18.44.

Natural gas Henry Hub future price (July delivery) declined again by 3.01% to $4.19/mmbtu. The Henry Hub spot price also fell by 2.27% to $4.31/mmbtu; as a result the gap between the spot and future price dropped to -$0.12, i.e. backwardation. During June, natural gas spot price (Henry Hub) declined by 6.9%.

Precious Metals prices:

After gold price had moderately increased during the past seven days, it came down yesterday by 2.12% to $1,520. Silver price also fell by 4.73% to $35.02.

During June, gold prices decreased by 1.1% and silver price fell by 8.6%.

The EURO/ USD declined for the second straight day, yesterday by 0.70%, as the USD appreciated against the EURO. During June the EURO/USD lost 1.0% of its value.

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 June 23


For further reading:

Monthly Analysis and Outlook: