Gold and silver continue their rally and reach new highs –August 3

Gold and silver prices continue to rise very sharply; gold price reached a new high yesterday at $1,666 – the highest price level in 2011; crude oil prices fell for the fourth straight business day; natural gas spot price (Henry Hub) also declined.

Here is a summary of the price movements of precious metals and energy commodities for August 3rd:

Precious Metals prices:

Gold price sharply increased yesterday by 1.33% to $1,666– its highest price level in 2011. Silver price also inclined on Wednesday by 4.16% reaching $41.76.

During August, gold prices increased by 2.2% and silver price rose by 4.1%.

The EURO/ USD bounced back and rose yesterday by 0.84%, as the USD depreciated against the EURO. During August the EURO/USD fell by 0.5% compared to its initial level at the beginning of the month.

Oil and Gas prices:

WTI Spot oil price declined again by 1.97% to $91.93 per barrel; during August the WTI spot oil price declined by 3.9%.

Brent spot price also fell by 2.64% to $112.96 per barrel.

Due to these falls, the difference between Brent and WTI fell to $21.03/bbl.

Natural gas Henry Hub future price (September delivery) declined by 1.45% to $4.09/mmbtu. The Henry Hub spot price also fell by 0.70% to $4.26/mmbtu; the gap between the spot and future price reached -$0.17, i.e. backwardation. During August, natural gas spot price (Henry Hub) remained unchanged.

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 3



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