Gold and Silver Ended the Week Falling –Recap February 24

Crude oil continued to trade up on Friday; on the other hand gold and silver prices changed direction and slightly declined; natural gas prices also sharply fell yesterday. The Euro appreciated again against the US Dollar while many other major currencies (Aussie dollar) fell against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 24th, 2012:

Precious Metals:

Gold price slightly decreased on Friday by 0.55% to $1,776.4; Silver price also slipped by 0.61% and reached $35.42. During February, gold increased by 2.1% and silver by 6.49%. 

The Euro/USD rose by 0.57% to 1.3449; the U.S Dollar appreciated against many exchange rates including the Aussie dollar.

Oil and Gas:

WTI price also sharply increased again by 1.86% to $109.49 per barrel; Brent oil rose by 0.53% to $126.65 per barrel;

Due to these changes, the difference between Brent and WTI oil prices decreased to $17.16/bbl. During the month, WTI rose by 11.2% and Brent by 14.2%.

The Henry Hub future price (March delivery) sharply fell by 2.67% to $2.55/mmbtu; the Henry Hub declined to $2.59/mmbtu; the difference between the spot and future reached $0.04/mmbtu, i.e. Backwardation.

A Summary of Changes for February 24th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 24

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