Gold and Silver Resumed Their Descent on Tuesday –Recap May 29th

Gold and silver prices, along with other commodities, started off the week on a negative note and declined on Tuesday. Crude oil edged down on the first trading day of the week. Furthermore, the price of natural gas future also continued to plunge. The Euro depreciated again against the USD. Several other exchange rates also edged down against the USD including the Australian dollar.

Here is a summary of the daily changes in precious metals and energy commodities for May 29th, 2012:

Forex and Bullion Markets:

Gold declined again by 1.29% to $1,551; Silver also decreased by 2.1% and reached $27.79. During the month, gold decreased by 6.8% and silver by 10.4%.

The Euro/USD resumed its descent as well and declined by 0.31% to 1.2503; furthermore, the U.S Dollar also appreciated against several currencies such as Australian dollar by 0.05%.

Energy Commodities:

WTI oil price (future short term) decreased yesterday by 0.11% to $90.76 per barrel;

Brent oil changed direction and trade down by 0.72% to $107.29 per barrel;

Following these shifts, the difference between Brent and WTI settled $16.53/bbl. During the month, WTI decreased by 13.45% and Brent oil by 10.3%.

Finally, the Henry Hub future (June delivery) tumbled down again by 3.11% to $2.49/mmbtu; the Henry Hub spot traded down to $2.50/mmbtu; the difference between the spot and future edged down to $0.01/mmbtu.

A Summary for May 29th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold Silver Crude oil Natural gas 2012 may 29

For further reading: