Silver and Gold Prices Changed Direction and Fell –Recap February 8

The market didn’t do much during yesterday trading as WTI oil price slightly rose and Brent oil moderately declined; gold and silver prices continued to zigzag as they have been during this week; yesterday they have changed direction again and decreased; natural gas prices continued their downward trend. The Euro didn’t move much yesterday against the USD, while other major currencies slightly depreciated against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 8th, 2012:

Precious Metals:

Gold price decreased on Wednesday by 0.98% to $1,731.3; Silver price also fell by 1.43% and reached $33.70. During February, gold decreased by 0.5% while silver rose by 1.33%. 

The Euro/USD remained unchanged at 1.3260; the U.S Dollar very slightly appreciated against other currencies such as the Canadian dollar.

Oil and Gas:

WTI price rose by 0.3% to $98.71 per barrel; Brent oil on the other hand decreased by 0.25% to $117.43 per barrel;

Due to these changes, the difference between Brent and WTI oil prices slightly fell to $18.72/bbl. During the month, WTI rose by 0.2%, and Brent by 5.9%.

The Henry Hub future price (March delivery) fell again by 1.21% to $2.45/mmbtu; the Henry Hub spot also declined to $2.49/mmbtu; the difference between the spot and future fell to -$0.04, i.e. Backwardation.

A Summary of Changes for February 8th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 8

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