Gold and silver prices bounced back and finished yesterday in the green after they had declined on Monday; crude oil prices fell for the third straight business day; natural gas spot price (Henry Hub) very moderately inclined.
Here is a summary of the price movements of precious metals and energy commodities for August 2nd:
Precious Metals prices:
Gold price changed direction again and sharply increased yesterday by 1.41% to $1,644 – its highest price level in 2011. Silver price also inclined on Tuesday by 1.99% to reach $40.09.
During August, gold prices increased by 0.8% and silver price remained unchanged.
The EURO/ USD fell yesterday by 0.33%, as the USD appreciated against the EURO. During August the EURO/USD fell by 1.4% compared to its initial level at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price declined again by 1.16% to $93.79 per barrel; during August the WTI spot oil price declined by 2.0%.
Brent spot price also fell by 0.80% to $115.32 per barrel.
Due to these changes, the difference between Brent and WTI rose to $21.53/bbl.
Natural gas Henry Hub future price (September delivery) declined by 0.95% to $4.15/mmbtu. The Henry Hub spot price on the other hand rose by 0.23% to $4.29/mmbtu; the gap between the spot and future price reached -$0.14, i.e. backwardation. During August, natural gas spot price (Henry Hub) inclined by 0.7%.
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):
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