Gold and Silver Declined Oil Bounced Back–Recap May 21st

Gold and silver prices changed direction from their two day rally during the end of last week and resumed their downward trend during yesterdays trading.  On the other hand crude oil prices rose; natural gas future tumbled down. The Euro traded up again against the USD. Other exchange rates also rose against the USD such as Aussie dollar.

Here is a summary of the daily changes in precious metals and energy commodities for May 21st, 2012:

Precious Metals:

Gold edged down by 0.2% to $1,588.7; Silver also decreased by 1.37% and reached $28.32. During the month, gold declined by 4.54% and silver by 8.69%.

The Euro/USD continued to trade up by 0.27% to 1.2817; furthermore, the U.S Dollar also depreciated against other currencies such as the Aussie dollar.

Energy Commodities:

WTI oil price bounced back and rose by 1.19% to $92.57 per barrel; Brent oil also increased by 2.15% to $110.30 per barrel;

Following these developments, the gap between Brent and WTI settled $17.73/bbl. During the month, WTI decreased by 11.73% and Brent oil by 7.8%.

The Henry Hub future (June delivery) changed direction again and tumbled down by 4.74% to $2.61/mmbtu; the Henry Hub spot on the other hand rose to $2.59/mmbtu; the gap between the spot and future declined to $0.02/mmbtu, i.e. Contango.

A Summary for May 21st:

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

 Gold Silver Crude oil Natural gas 2012 may 21

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