Gold and Silver Continued Their Rally –Recap January 26

Gold and silver prices continued their rally and sharply rose again during Thursday’s trading; crude oil also traded up yesterday; natural gas future price changed direction and fell while the spot price sharply increased yesterday. The Euro and other currencies such as Australian dollar traded slightly up against the U.S. dollar on Thursday. Here is a summary of the price developments of precious metals and energy commodities for January 26th, 2012:

Precious Metals Prices:

Gold price continued to rise; it ended Thursday’s trading rising 1.58% to $1,729.9; Silver price also rose by 1.88% to reach $33.74. During January, gold increased by 10.4%, and silver by 20.88%. 

The Euro/USD also slightly increased by 0.02% to 1.3108; the U.S Dollar also traded down against other currencies such as the Australian dollar.

Oil and Gas Prices:

WTI added 0.58% to its value to $99.70 per barrel; Brent oil rose 0.45% to $110.28 per barrel;

Due to these changes, the difference between Brent and WTI oil prices declined to $10.58/bbl. During January, WTI oil price rose by 0.9%, and Brent by 2.5%.

The Henry Hub future price (February delivery) sharply fell by 4.76% to $2.60/mmbtu. The Henry Hub spot sharply rose to $2.69/mmbtu; the difference between the spot and future price fell to $0.09, i.e. Backwardation.

A Summary of Yesterday’s Prices Changes:

The table below includes: closing prices, daily percent change, and change in prices and indexes in USD (except for USD/CAD, in which the change is in Canadian dollar):

 Gold price and Silver price Crude oil prices, Natural gas price 2012  January 26

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