Oil prices continue to rally; Gold & silver also inclined – August 30

Crude oil prices have completed yesterday a four consecutive business days rally; Brent oil nearly eliminated all its losses from the beginning of the month; Gold and silver prices continue to zigzag as they have finished yesterday on a rise; natural gas spot price (Henry Hub) continues to freefall and has completed a 5.6% drop in the past four business days. Here is a summary of the price movements of precious metals and energy commodities for August 30th:

Precious Metals prices:

Gold price inclined yesterday by 2.13% to $1,829; Silver price also rose by 2.13% to $41.46. During August, gold prices increased by 12.2%, and silver price by only 3.4%.

The EURO to US Dollar exchange rate decreased by 0.48% – i.e. the USD appreciated against the EURO. During August, the EURO to US Dollar slightly rose by 0.38%.

Oil and Gas prices:

WTI Spot oil price inclined by 1.87%; it settled at $88.90 per barrel; Brent spot price also rose by 1.5% to $114.79 per barrel; during August the WTI spot oil price declined by 7.1% and Brent oil by only 1.7%.

Due to these changes, the difference between Brent and WTI declined to $25.89/bbl.

Natural gas Henry Hub future price (September delivery) bounced back and rose by 2.09% to $3.91/mmbtu. The Henry Hub spot price, on the other hand, declined by 1.28% to $3.86/mmbtu; the gap between the spot and future price has shrunk to $0.05, i.e. contango. During August, natural gas spot price (Henry Hub) fell by 9.4%.

A summary of yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in prices and indexes in US dollars (except for USD/CAD, in which the change is in Canadian dollars):

Current Gold price and Silver prices Crude spot oil prices, Natural gas spot price 2011 August 30


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