The week ended with gold and silver prices declined, while crude oil price (WTI spot oil) bounced back with moderate rises; natural gas spot price continued to fall.
Here is a summary of the price movements of precious metals and energy commodities for June 24th:
Precious Metals prices:
Gold price declined for the second straight day, yesterday by 1.29% to $1,500. Silver price also fell by 1.05% to $34.65.
During June, gold prices decreased by 2.3% and silver price fell by 9.5%.
The EURO/ USD declined for the third straight day, yesterday by 0.48%, as the USD appreciated against the EURO. During June the EURO/USD lost 1.4% of its value.
Oil and Gas prices:
WTI Spot oil price bounced back and closed the week with a 0.2% increase to $90.83 per barrel; during June the WTI spot oil price fell by 11.6%.
Brent spot price on the other hand fell again by 2.7% to $106.15 per barrel.
Due to these falls the difference between Brent and WTI sharply declined to $15.32.
Natural gas Henry Hub future price (July delivery) rose by 0.95% to $4.23/mmbtu. The Henry Hub spot price fell by 2.78% to $4.19/mmbtu; as a result the gap between the spot and future price rose to $0.04, i.e. contango. During June, natural gas spot price (Henry Hub) declined by 9.5%.
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:
Monthly Analysis and Outlook:
- Natural gas prices outlook for June 2011
- Gold and silver prices outlook for June 2011
- Oil prices Monthly outlook –June 2011