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.
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):
For further reading (in this site):
Monthly Analysis and Outlook:
- Natural gas prices outlook for May 2011
- Gold and silver prices outlook May 2011 – what’s next for gold & silver?
- Crude oil prices Monthly outlook –April 2011