Major commodities fell sharply yesterday – May 3

The second day of the week wasn’t any better of major commodities including crude oil, natural gas, gold and silver as all these commodities registered yesterday major declines.

Here is a summary of the changes in commodities and precious metals for May 3rd:

Precious Metals prices:

Silver prices continued to decline for the second straight day, by 7.59% to 42.59$; gold price, also joined the falls and declined by 1.07% and reached 1,540.

During May, gold prices decreased by 1%, and silver prices fell by 12.4%.

Oil and Gas prices:

Spot oil price (WTI) also declined by 2.18% to reach 111.05$/b; during May the WTI spot oil price fell by 2.5%.

Brent spot price also fell by 1.86% and reached 122.05$/b.

As a result, the difference between Brent and WTI moderately inclined to 11.00$/b.

Natural gas spot price (Henry Hub) moderately declined yesterday by 0.22% and reached 4.60$/mmbtu.

The Henry Hub future price also moderately decreased by 0.43% to 4.67$/mmbtu, as a result the spread between future and spot price declined to +0.07$, i.e. contango.

EURO/ USD decreased by a moderate rate of 0.03%, as the USD appreciates against the EURO.

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

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 3


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Monthly Analysis and Outlook: