Gold and Silver Rallied from Wednesday’s Tumble –Recap March 15th

Gold and silver prices bounced back yesterday from their sharp decline a day earlier. Crude oil prices on the other hand continued its downward trend; natural gas future price remain flat but the spot price kept falling yesterday. The Euro also rallied and slightly rose against the U.S. dollar.

Here is a summary of the changes in precious metals and energy commodities for March 15th, 2012:

Precious Metals:

Gold price rose by 1.01% to $1,659.5; Silver price also increased by 1.69% and reached $32.73. During March, gold decreased by 3.03% and silver by 5.53%. 

The Euro/USD also rallied yesterday by 0.36% to 1.3080; furthermore, the U.S Dollar depreciated against many other exchange rates such as the Aussie dollar.

Oil and Gas:

WTI price on the other hand continued to decline by 0.3% to $105.11 per barrel; Brent oil also decreased by 1.51% to $123.17 per barrel;

Due to these changes, the gap between Brent and WTI oil prices shrunk to $18.06/bbl. During the month, WTI traded down by 1.8% and Brent oil by 0.6%.

The Henry Hub future (April delivery) remained flat at $2.28/mmbtu; the Henry Hub spot price declined to $2.07/mmbtu; the difference between the spot and future reached $0.21/mmbtu, i.e. Contango.

A Summary of Changes for March 15th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 15

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