Gold market keeps heating up | Oil price bounced back from falls –July 12

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):

Crude spot oil prices, Natural gas spot price, Current Gold and Silver prices 2011 July 12



For further reading:


Monthly Analysis and Outlook:

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