Gold and Oil Prices Started the Week Declining –Recap February 6

Major commodities prices started off the week on a negative note as gold price declined again for the second consecutive business day; crude oil (WTI) price also decreased, while Brent oil price rose again. The Euro and many other currencies slightly fell yesterday against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 6th, 2012:

Precious Metals:

Gold price decreased on Monday by 0.88% to $1,724.9; Silver price on the other hand remained virtually unchanged at $33.75. During February, gold decreased by 0.9% while silver rose by 1.47%. 

The Euro/USD slightly decreased by 0.21% to 1.3130; the U.S Dollar also appreciated against other currencies such as the CAD.

Oil and Gas:

WTI price declined by 0.95% to $96.91 per barrel; on the other hand Brent oil rose by 1.6% to $116.11 per barrel;

Due to these changes, the difference between Brent and WTI oil prices sharply rose again to $19.20/bbl. During the month, WTI slipped by 1.6%, while Brent rose by 4.7%.

The Henry Hub future price (March delivery) rose by 2% to $2.55/mmbtu; the Henry Hub spot rose to $2.48/mmbtu; the difference between the spot and future fell to $0.07, i.e. Contango.

A Summary of Changes for February 6th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold price Silver Crude oil prices, Natural gas 2012 February 6

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