Gold and Oil started off July with falls –July 1

Major commodities started off the month of July with falls; this includes crude oil prices (WTI and Brent oil), gold and silver prices; natural gas spot price, on the other hand started off July with moderate rises.

Here is a summary of the price movements of precious metals and energy commodities for July 1st:


Precious Metals prices:

Gold price declined by 1.34% to $1,482. Silver price also decreased by 3.24% to $33.71.

During June up to July 1st, gold prices decreased by 3.5% and silver price fell by 12%.

The EURO/ USD inclined again yesterday by 0.17%, as the USD depreciated against the EURO. During June up to July 1st the EURO/USD rose by 1% compared with the rate at the beginning of the month.


Oil and Gas prices:


WTI Spot oil price declined by 0.50% to $94.94 per barrel; during June up to July 1st the WTI spot oil price fell by 7.6%.

Brent spot price also fell by 0.26% to $111.38 per barrel.

Due to these changes the difference between Brent and WTI inclined to $16.44/bbl.

Natural gas Henry Hub future price (July delivery) declined by 1.37% to $4.31/mmbtu. The Henry Hub spot price on the other hand increased by 0.93% to $4.32/mmbtu; the gap between the spot and future price fell to -$0.01, i.e. backwardation. During June up to July 1st, natural gas spot price (Henry Hub) declined by 6.7%.


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 July 1



For further reading:


Monthly Analysis and Outlook: