Gold and silver prices kept on falling yesterday for the second straight day. Crude oil price (WTI spot) also declined, while Brent oil didn’t move much yesterday.
Here is a summary of the main price changes in commodities and precious metals for May 17th:
Precious Metals prices:
Gold price moderately decreased yesterday for the third straight business day and reached 1,480$, a 0.71% decline.
Silver price also fell for the second straight business day by 1.88% to end at 33.491$.
During May, gold prices decreased by 4.9% and silver price fell by 31.1%.
The EURO/ USD kept on rising yesterday by 0.57%, as the USD depreciates against the EURO. During May the EURO/USD lost 3.8% of its value.
Oil and Gas prices:
Spot oil price (WTI) declined yesterday by 0.47% and reached 96.91$/b; during May the WTI spot oil price fell by 14.5%.
Brent spot price on the other hand moderately inclined by 0.05% and reached 110.85$/b.
As a result, the difference between Brent and WTI declined to 13.94$/b.
Natural gas prices (Henry Hub spot) on the other hand increased by 0.95% and reached 4.25$/mmbtu.
The Henry Hub future price decreased by 3.24% to 4.18$/mmbtu; as a result the spread between future and spot price declined to -0.07$/mmbtu, i.e. backwardation.
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):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Oil prices Monthly outlook –May 2011