Major commodities prices started off the week with sharp gains especially for the energy commodities including crude oil prices and natural gas prices. The Euro and other currencies including Canadian dollar rallied from Friday’s falls and appreciated against the U.S. dollar on Monday. Here is a summary of the price developments of precious metals and energy commodities for January 23rd, 2012:
Precious Metals Prices:
Gold price increased on Monday by 0.86% to $1,678.3; Silver price also rose by 1.88% to reach $32.27. During January, gold increased by 7.1%, and silver by 15.6%.
The Euro/USD rallied on yesterday by 0.64% to 1.3014; the U.S Dollar also depreciated against other currencies such as the CAD.
Oil and Gas Prices:
WTI gained 0.98% to $99.42 per barrel; Brent added 0.66% to $110.35 per barrel;
Due to these changes, the difference between Brent and WTI oil prices slipped to $10.93/bbl. During January, WTI oil price rose by 0.6%, but Brent by 2.6%.
The Henry Hub future price (February delivery) sharply rose by 8.12% to $2.53/mmbtu. The Henry Hub spot sharply rallied to $2.40/mmbtu; the difference between the spot and future price rose to $0.13, i.e. Contango.
A Summary of Yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes in USD (except for USD/CAD, in which the change is in Canadian dollar):
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