The recent developments in Europe including the higher than expected growth rate of Germany’s GDP by 0.5%, and the news that Greece is heading towards another elections, left the Euro falling again against the USD. Gold and silver prices continued their slow paced fall during yesterday’s trading. Crude oil price (WTI) declined while the Brent oil traded up; natural gas future bounced back and sharply increased.
Here is a summary of the daily developments in precious metals and energy commodities for May 15th, 2012:
Precious Metals:
Gold slipped again by 0.25% to $1,557; Silver also fell by 0.96% and reached $28.08. During the month, gold decreased by 6.44% and silver by 9.47%.
The Euro/USD also tumbled down again by 0.73% to 1.2729; furthermore, the U.S Dollar also appreciated against other currencies such as the Aussie dollar.
Energy Commodities:
WTI oil price also fell by 0.84% to $93.98 per barrel; Brent oil on the other hand rose by 0.65% to $111.72 per barrel;
Following these developments, the difference between Brent and WTI reached $17.74/bbl. During the month, WTI fell by 10.38% and Brent oil by 6.6%.
The Henry Hub future (June delivery) bounced back by 2.88% to $2.50/mmbtu; the Henry Hub spot remained flat at $2.4/mmbtu; the difference between the spot and future rose to $0.10/mmbtu, i.e. Contango.
A Summary for May 15th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: