Gold & silver prices keep on rising –August 16

Crude oil prices continue to zigzag as they have decreased yesterday, following sharp gains they have recorded on Monday; Gold and silver prices on the other hand continue to rise; natural gas spot price (Henry Hub) declined again on Tuesday.

Here is a summary of the price movements of precious metals and energy commodities for August 16th:

Precious Metals prices:

Gold price sharply inclined yesterday by 1.54% to $1,785; Silver price also inclined by 1.3% to $39.85.

During August, gold prices increased by 9.4%, but silver price fell by 0.6%.

The EURO/ USD declined yesterday by 0.25%, as the USD appreciated against the EURO. During August the EURO/USD slightly rose by 0.1% compared to its initial level at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price continue to zigzag with no clear direction as it finished yesterday with a 1.4% drop to reach $86.65 per barrel; during August the WTI spot oil price declined by 9.5%. Brent spot price also slightly decreased by 0.2% to $109.55 per barrel.

Due to these changes, the difference between Brent and WTI slightly inclined to $22.90/bbl.

Natural gas Henry Hub future price (September delivery) declined by 1.99% to $3.94/mmbtu. The Henry Hub spot price also declined by 0.49% to $4.03/mmbtu; the gap between the spot and future price declined to -$0.09, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 5.4%.

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 16


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 Monthly Analysis and Outlook: