Gold price continues its charge as the Euro and US dollar further weakens against other major currencies. Crude oil price (WTI spot oil) bounced back from its falls and inclined; natural gas price continued to incline as well.
Here is a summary of the price movements of precious metals and energy commodities for July 12th:
Oil and Gas prices:
WTI Spot oil price increased yesterday by 2.4% to $97.43 per barrel; during July the WTI spot oil price inclined by 2.1%.
Brent spot price on the other hand moderately declined by 0.3% to $116.47 per barrel.
Due to these price changes the difference between Brent and WTI inclined to $19.04/bbl.
Natural gas Henry Hub future price (August delivery) inclined yesterday by 0.93% to $4.33/mmbtu. The Henry Hub spot price also added 0.23% to it value and settled at $4.37/mmbtu; the gap between the spot and future price rose to -$0.04, i.e. backwardation. During July, natural gas spot price (Henry Hub) inclined by 2.1%.
Precious Metals prices:
Gold price inclined for the sixth straight business day, yesterday by 0.85% to $1,562 – the highest price level in 2011. Silver price on the other hand decreased again by 0.18% to $35.63.
During July, gold prices increased by 4.0% and silver price by 2.3%.
The EURO/ USD declined again by 0.38%, as the USD appreciated against the EURO. During July the EURO/USD fell by 3.6% 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):
For further reading:
Monthly Analysis and Outlook: