The week has started with moderate rises for gold and silver prices and moderate rises in crude oil prices.
Here is a summary of the main price changes in energy commodities and precious metals for June 6th:
Precious Metals prices:
Gold price started the week with a rise of 0.31% to reach $1,547. Silver price also inclined yesterday by 1.63% and reached $36.78.
During June, gold prices increased by 0.7% and silver price fell by 4.0%.
The EURO/ USD halted its comeback and declined yesterday by 0.4%, as the USD appreciated against the EURO. During June the EURO/USD gained 1.3% of its value.
Oil and Gas prices:
Spot oil price (WTI) continued to drop; yesterday it fell by 1.52% and reached $99.01 per barrel; during June the WTI spot oil price fell by 3.6%.
Brent spot price also declined yesterday by 1.62% and reached $114.02 per barrel.
As a result, the difference between Brent and WTI declined to $15.01.
Natural gas price (Henry Hub spot) on the other hand continued its rally and inclined again by 2.54% to $4.84 per mmbtu. The Henry Hub future price (July delivery) rose by 2.34% to $4.82 per mmbtu; as a result the gap between the spot and future price declined to -$0.02 mmbtu, i.e. backwardation. During June, natural gas spot price (Henry Hub) inclined by 4.5%.
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 (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook for June 2011
- Oil prices Monthly outlook –May 2011