Gold & oil prices started the week rising –August 15

Crude oil prices changed direction again and started the week with sharp rises; Gold and silver prices also finished yesterday in the green; natural gas spot price (Henry Hub) finished Monday with falls.

Here is a summary of the price movements of precious metals and energy commodities for August 15th:

Precious Metals prices:

Gold price changed direction and inclined yesterday by 0.88% to $1,758; Silver price also inclined by 0.57% to $39.34.

During August, gold prices increased by 7.8%, but silver price fell by 1.9%.

The EURO/ USD inclined yesterday for the second straight business day by 1.38%, as the USD sharply depreciated against the EURO. During August the EURO/USD slightly rose by 0.3% compared to its initial level at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price bounced back from the falls recorded on Friday as it finished yesterday with a 2.93% gain to reach $87.88 per barrel; during August the WTI spot oil price declined by 8.2%. Brent spot price also increased by 2.26% to $109.77 per barrel.

Due to these changes, the difference between Brent and WTI slightly declined to $21.89/bbl.

Natural gas Henry Hub future price (September delivery) declined by 0.99% to $4.02/mmbtu. The Henry Hub spot price also declined by 2.64% to $4.05/mmbtu; the gap between the spot and future price changed direction to -$0.03, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 4.9%.

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):

Current Gold price and Silver prices Crude spot oil prices, Natural gas spot price 2011 August 15

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Monthly Analysis and Outlook: