Gold Silver and Oil Declined Again– Recap August 29th

Most commodities traded down again during Wednesday: the price of Brent oil fell again for the sixth consecutive day; crude oil price (WTI) also declined; gold and silver traded down on Wednesday – this was the second consecutive day in which both metals traded down; natural gas Henry Hub future (September delivery) bounced back and rose while spot decreased again on Wednesday; the Euro also slipped on Wednesday. Several other currency pairs including the Aussie dollar/USD also fell.

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

Forex and Bullion Markets:

Gold edged down by 0.4% to $1,663; Silver also decreased by 0.13% to reach $30.92. During the month, gold increased by 3.0%; silver, by 10.78%.

The Euro/USD fell by 0.27% to 1.2531; further, the U.S Dollar also appreciated against several other currencies including Aussie dollar by 0.25%.

Energy Commodities:

WTI oil price declined yesterday by 0.87% to $95.49 per barrel;

Brent oil also fell by 0.06% to $113.26 per barrel;

Following these changes, the gap between Brent and WTI rose to $17.77/bbl. During the month, WTI increased by 8.44% and Brent oil by 6.9%.

Finally, the Henry Hub future (September delivery) rose by 2.29% to $2.68/mmbtu; the Henry Hub spot declined to $2.64/mmbtu; the difference between the spot reached $0.04, contango.

A Summary for August 29th:

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

Gold Silver Crude oil Natural gas 2012 August 29

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