Gold silver and oil prices crashed yesterday–August 4

Gold and silver prices changed direction yesterday: after they had risen during most of August so far, they sharply declined yesterday; crude oil prices fell for the fifth straight business day; natural gas spot price (Henry Hub) also declined.

Here is a summary of the price movements of precious metals and energy commodities for August 4th:

Precious Metals prices:

Gold price decreased yesterday by 0.44% to $1,659 Silver price also sharply declined on Thursday by 5.57% reaching $39.43.

During August, gold prices increased by 1.7% and silver price fell by 1.7%.

The EURO/ USD sharply fell yesterday by 1.61%, as the USD appreciated against the EURO. During August the EURO/USD fell by 2.1% compared to its initial level at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price sharply declined by 5.77% to $86.63 per barrel; during August the WTI spot oil price declined by 9.5%. Brent spot price also fell by 4.96% to $107.36 per barrel.

Due to these falls, the difference between Brent and WTI fell to $20.73/bbl.

Natural gas Henry Hub future price (September delivery) declined by 3.67% to $3.94/mmbtu. The Henry Hub spot price also fell by 1.17% to $4.21/mmbtu; the gap between the spot and future price reached -$0.27, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 1.2%.

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):

Current Gold and Silver prices Crude spot oil prices, Natural gas spot price 2011 August 4


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Monthly Analysis and Outlook: