Gold and Silver Prices Resumed Their Descent on Friday March 16th 2012

Gold and silver prices slipped yesterday after they have rallied a day earlier. Crude oil prices on the other hand sharply rose on Friday; natural gas future also traded up but the spot price sharply declined yesterday. The Euro sharply increased against the U.S. dollar.

Here is a summary of the changes in precious metals and energy commodities for March 16th, 2012:

Precious Metals:

Gold price slipped by 0.22% to $1,655.8; Silver price also decreased by 0.37% and reached $32.60. During March, gold decreased by 3.24% and silver by 5.88%. 

The Euro/USD rallied yesterday by 0.73% to 1.3176; furthermore, the U.S Dollar depreciated against many other exchange rates such as the Canadian dollar.

Oil and Gas:

WTI price on the other hand sharply rose by 1.86% to $107.06 per barrel; Brent oil also increased by 2.62% to $126.40 per barrel;

Due to these changes, the gap between Brent and WTI oil prices expanded to $19.34/bbl. During the month, WTI remained flat while Brent oil rose by 2%.

The Henry Hub future (April delivery) rose by 2.19% to $2.33/mmbtu; the Henry Hub spot price sharply declined to $2.03/mmbtu; the difference between the spot and future reached $0.30/mmbtu, i.e. Contango.

A Summary of Changes for March 16th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold price Silver Crude oil prices, Natural gas 2012 March 16

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