Silver and gold prices finished the week with falls –June 24

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):

Crude spot oil prices, Natural gas spot price, Current Gold and Silver prices 2011 June 24


For further reading:

Monthly Analysis and Outlook: