Major Commodities Prices Increased on Tuesday –Recap February 7

Energy commodities prices and precious metals prices changed direction and rose during Tuesday’s trading:  gold and silver prices sharply rose; crude oil was also traded up. The Euro and major other currencies sharply appreciated against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 7th, 2012:

Precious Metals:

Gold price increased on Tuesday by 1.36% to $1,748.4; Silver price also rose by 1.32% and reached $34.19. During February, gold increased by 0.5% and silver rose by 2.8%. 

The Euro/USD sharply increased by 0.99% to 1.3260; the U.S Dollar also depreciated against other currencies such as the Australian dollar.

Oil and Gas:

WTI price rose by 1.55% to $98.41 per barrel; Brent oil also increased by 1.39% to $117.72 per barrel;

Due to these changes, the difference between Brent and WTI oil prices slightly rose again to $19.31/bbl. During the month, WTI slipped by 0.1%, while Brent rose by 6.1%.

The Henry Hub future price (March delivery) fell by 2.75% to $2.48/mmbtu; the Henry Hub spot rose to $2.60/mmbtu; the difference between the spot and future fell to $0.12, i.e. Backwardation.

A Summary of Changes for February 7th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 7

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