Gold and Silver Ended the Week Rising–Recap May 18th

Gold and silver prices continued their rally and ended the week on a positive note. Crude oil (WTI) on the other hand continued its descent; natural gas future spiked. The Euro also changed direction and traded up against the USD. Other exchange rates on the other hand declined against the USD such as Canadian dollar.

Here is a summary of the daily developments in precious metals and energy commodities for May 18th, 2012:

Precious Metals:

Gold rose again by 1.08% to $1,591.9; Silver also increased by 2.48% and reached $28.72. During the month, gold declined by 4.34% and silver by 7.42%.

The Euro/USD also changed direction and rose by 0.66% to 1.2782; alternatively, the U.S Dollar appreciated against other currencies such as the Canadian dollar.

Energy Commodities:

WTI oil price decreased by 1.17% to $91.48 per barrel; Brent oil on the other hand edged up by 0.06% to $107.98 per barrel;

Following these shifts, the difference between Brent and WTI settled $16.50/bbl. During the month, WTI fell by 12.77% and Brent oil by 9.8%.

The Henry Hub future (June delivery) changed direction again and spiked by 5.38% to $2.74/mmbtu; the Henry Hub spot on the other hand fell to $2.56/mmbtu; the difference between the spot and future declined to $0.18/mmbtu, i.e. Contango.

A Summary for May 18th:

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

 Gold Silver Crude oil Natural gas 2012 may 18

For further reading: