Gold and Silver Prices Bounced Back on Thursday–Recap February 9

The bullion market continues to zigzag as gold and silver prices rose on Thursday after they had declined on Wednesday. Crude oil prices also rose during yesterday’s trading; natural gas prices shifted from their recent downward trend and also finished the day in the green. The Euro slightly appreciated against the USD, while other major currencies (AUD and YEN) depreciated against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 9th, 2012:

Precious Metals:

Gold price rose on Thursday by 1.14% to $1,741.2; Silver price also increased by 0.63% and reached $33.92. During February, gold remained flat while silver rose by 1.97%. 

The Euro/USD slightly increased by 0.19% to 1.3285; the U.S Dollar slightly appreciated against other currencies such as the Yen and AUD.

Oil and Gas:

WTI price rose again by 1.14% to $99.84 per barrel; Brent oil also increased by 1.04% to $118.65 per barrel;

Due to these changes, the difference between Brent and WTI oil prices slightly increased to $18.81/bbl. During the month, WTI rose by 1.4%, and Brent by 7.0%.

The Henry Hub future price (March delivery) also increased by 0.82% to $2.47/mmbtu; the Henry Hub spot also increased to $2.50/mmbtu; the difference between the spot and future fell to -$0.03, i.e. Backwardation. A Summary of Changes for February 9th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 9

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