Oil, gold and silver prices finished the day with falls – May 11

After two days of rises, the major commodities reacted to the strengthening of the US dollar and declined including crude oil (WTI spot oil and Brent oil), gold and silver.

Here is a summary of the changes in commodities and precious metals for May 11th:

Precious Metals prices:

Gold price decreased yesterday and finished the business day at 1,501$, a 1.02% decline.

Silver price halted its increase and declined yesterday by 7.72% to 35.52$.

During May, gold prices decreased by 3.5% and silver price fell by 26.9%.

The EURO/ USD decreased sharply yesterday by 1.51%, as the USD appreciates against the EURO.

For a more detailed report on major currencies, check out Forex crunch.

Oil and Gas prices:

Spot oil price (WTI) declined yesterday by 5.01% and reached 98.21$/b; during May the WTI spot oil price fell by 13.4%.

Brent spot price also fell by 4.43% and reached 112.60$/b.

As a result, the difference between Brent and WTI inclined to 14.39$/b.

Natural gas prices (Henry Hub spot) on the other hand inclined by 0.71% and reached 4.23$/mmbtu.

The Henry Hub future price decreased by 1.65% to 4.18$/mmbtu, as a result the spread between future and spot price declined to -0.05$/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):

Crude spot oil price, Natural gas spot price, Current Gold price Silver prices 2011 May 11


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Monthly Analysis and Outlook: