Oil & gold prices inclined, silver price declined – Recap May 12

The commodities market continue to stir up with no clear direction; yesterday the markets closed with moderate fall in silver prices, and rises in gold and crude oil prices (WTI spot oil and Brent oil).

Here is a summary of the changes in commodities and precious metals for May 12th:

Precious Metals prices:

Gold price increased yesterday and finished the business day at 1,506$, a 0.36% decline.

Silver price declined for the second straight day, yesterday by 2.02% to 34.80$.

During May, gold prices decreased by 3.2% and silver price fell by 28.4%.

The EURO/ USD bounced back and moderately inclined yesterday by 0.38%, as the USD depreciates against the EURO.

For a more detailed report on major currencies, check out Forex crunch.

Oil and Gas prices:

Spot oil price (WTI) rose yesterday by 0.77% and reached 98.97$/b; during May the WTI spot oil price fell by 12.7%.

Brent spot price also inclined by 0.1% and reached 112.71$/b.

As a result, the difference between Brent and WTI declined to 13.74$/b.

Natural gas prices (Henry Hub spot) on the other hand declined by 3.31% and reached 4.09$/mmbtu.

The Henry Hub future price increased by 0.24% to 4.19$/mmbtu, as a result the spread between future and spot price inclined to 0.1$/mmbtu, i.e. contango.

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 price, Natural gas spot price, Current Gold price Silver prices 2011 May 12


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Monthly Analysis and Outlook: