Gold kept on rising | oil started the week with falls –July 11

Crude oil prices started the week with moderate falls; gold price kept on rising, while silver price ended yesterday falling; natural gas price changed direction from last week and sharply inclined.    

Here is a summary of the price movements of precious metals and energy commodities for July 11th:

 Oil and Gas prices:

WTI Spot oil price fell yesterday by 1.09% to $95.15 per barrel; during July the WTI spot oil price declined by 0.3%.

Brent spot price also declined by 0.82% to $116.82 per barrel.

Due to these price changes the difference between Brent and WTI inclined to $21.67/bbl.

Natural gas Henry Hub future price (August delivery) inclined yesterday by 1.9% to $4.29/mmbtu. The Henry Hub spot price sharply increased by 4.06% to $4.36/mmbtu; the gap between the spot and future price fell to -$0.07, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 3.1%.

 Precious Metals prices:

Gold price inclined for the fifth straight business day, yesterday by 0.49% to $1,549 – the highest price level since June 22nd. Silver price on the other hand decreased by 2.31% to $35.70.

During July, gold prices increased by 3.1% and silver price by 2.5%.

The EURO/ USD sharply declined by 1.65%, as the USD appreciated against the EURO. During July the EURO/USD fell by 3.3% compared with the rate at the beginning of the month.

 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):

 Crude spot oil prices, Natural gas spot price, Current Gold and Silver prices 2011 July 11


 For further reading:

Monthly Analysis and Outlook: