Gold price continues to break new highs and is nearing the $1,600 mark; Silver price experienced yesterday its sharpest gain in 2011; Crude oil price continues its rally and moderately incline; natural gas price also continued to rise.
Here is a summary of the price movements of precious metals and energy commodities for July 13th:
Precious Metals prices:
Gold price inclined for the seventh straight business day, yesterday by 1.48% to $1,585 – the highest price level in 2011. Silver price soared yesterday with a 7.06% increase and it reached $38.15 – the highest price level since May 31st 2011.
During July, gold prices increased by 5.5% and silver price by 9.5%.
The EURO/ USD bounced back and rose by 1.37%, as the USD depreciated against the EURO. During July the EURO/USD fell by 2.3% compared with the rate at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price increased yesterday by 0.66% to $98.05 per barrel; during July the WTI spot oil price inclined by 2.8%.
Brent spot price also moderately inclined by 0.2% to $117.60 per barrel.
Due to these price changes the difference between Brent and WTI inclined to $19.55/bbl.
Natural gas Henry Hub future price (August delivery) inclined yesterday by 1.48% to $4.41/mmbtu. The Henry Hub spot price also added 1.37% to it value and settled at $4.43/mmbtu; the gap between the spot and future price rose to -$0.02, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 3.5%.
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):
For further reading:
Monthly Analysis and Outlook: