Gold and silver prices continued their rally – July 6

Gold and silver prices continued their rally and inclined for the second straight day; WTI crude oil price, on the other hand, moderately declined; natural gas prices also finished the day with falls.    

Here is a summary of the price movements of precious metals and energy commodities for July 6th:

 Precious Metals prices:

Gold price continued to rise and increased yesterday by 1.09% to $1,529 – the highest price level since June 22nd. Silver price also increased by 1.43% to $35.92.

During July, gold prices increased by 1.8% and silver price by 3.1%.

The EURO/ USD declined again yesterday by 0.76%, as the USD appreciated against the EURO. During July the EURO/USD fell by 1.3% compared with the rate at the beginning of the month.

 Oil and Gas prices:

WTI Spot oil price shifted direction and fell by 0.25% to $96.65 per barrel; during July the WTI spot oil price rose by 1.3%.

Brent spot price on the other hand inclined again by 0.34% to $113.92 per barrel.

Due to these changes the difference between Brent and WTI inclined to $17.27/bbl.

Natural gas Henry Hub future price (August delivery) sharply fell by 3.44% to $4.21/mmbtu. The Henry Hub spot price decreased by 1.36% to $4.34/mmbtu; the gap between the spot and future price fell to -$0.13, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 1.4%.

 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 6


 For further reading:

Monthly Analysis and Outlook: