Gold and Silver Bounced Back on Thursday–Recap May 17th

Gold and silver prices changed direction and bounced back during yesterday’s trading. The recent disappointing news of the drop in the Philly Fed Index may have been among the factors to drag down energy commodities prices: Crude oil (WTI) continued their downward trend; natural gas future also slipped. The Euro continued to decline against the USD. Other exchange rates also slipped against the USD such as Australian dollar.

Here is a summary of the daily shifts in precious metals and energy commodities for May 17th, 2012:

Precious Metals:

Gold bounced back and spiked by 2.49% to $1,574.9; Silver also rose by 3.03% and reached $28.02. During the month, gold declined by 5.37% and silver by 9.66%.

The Euro/USD slipped again by 0.14% to 1.2698; furthermore, the U.S Dollar also appreciated against other currencies such as the Aussie dollar.

Energy Commodities:

WTI oil price also decreased by 0.27% to $92.56 per barrel; Brent oil also tumbled down by 2.12% to $107.92 per barrel;

Following these shifts, the difference between Brent and WTI settled $15.36/bbl. During the month, WTI fell by 11.74% and Brent oil by 9.8%.

The Henry Hub future (June delivery) changed direction and declined by 0.76% to $2.60/mmbtu; the Henry Hub spot on the other hand spiked to $2.61/mmbtu; the difference between the spot and future declined to -$0.01/mmbtu, i.e. Backwardation.

A Summary for May 17th:

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

 Gold Silver Crude oil Natural gas 2012 may 17

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