Major commodities prices finished the week rising, this includes gold and silver prices among the precious metals prices and crude oil and natural gas prices among the energy commodities prices.
Here is a summary of the price movements of precious metals and energy commodities for July 15th:
Precious Metals prices:
Gold price finished the week rising. Yesterday it inclined for the ninth straight business day by 0.05% to $1,590 – the highest price level in 2011. Silver price also inclined yesterday by 0.97% to reach $39.07 – the highest price level since May 4th 2011.
During July, gold prices increased by 5.8% and silver price by 12.2%.
The EURO/ USD changed direction and rose by 0.11%, as the USD depreciated against the EURO. During July the EURO/USD fell by 2.4% compared with the rate at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price continued to zigzag and rose yesterday by 1.62% to $97.24 per barrel; during July the WTI spot oil price inclined by 1.9%.
Brent spot price also inclined by 0.71% to $117.72 per barrel.
Due to these shifts the difference between Brent and WTI fell to $20.48/bbl.
Natural gas Henry Hub future price (August delivery) sharply increased yesterday by 3.88% to $4.55/mmbtu. The Henry Hub spot price also added 1.58% to its value and settled at $4.49/mmbtu; the gap between the spot and future price rose to $0.06, i.e. contango. During July, natural gas spot price (Henry Hub) inclined by 4.9%.
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):
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For further reading:
Monthly Analysis and Outlook: