Gold and Silver Started off the Month Rising –Recap February 1


Natural gas prices started the month on a negative note as they have sharply declined again. Crude oil was also traded down during yesterday’s trading. On the other hand precious metals rallied from their slowdown as gold and silver prices increased on Wednesday. The Euro rallied from its decline on Tuesday and slightly appreciated yesterday against the U.S dollar; other exchange rates including the Australian dollar also rose. Here is a summary of the developments of precious metals and energy commodities for February 1st, 2012:

Precious Metals:

Gold price increased again on Wednesday by 0.52% to $1,749.5; Silver price also traded up by 1.52% to $33.81. During the week, gold rose by 0.8% and silver by 0.1%. 

The Euro/USD bounced back and slightly increased by 0.59% to 1.3160; the U.S Dollar also depreciated against other exchange rates such as the Australian dollar.

Oil and Gas:

WTI price fell again by 0.88% to $97.61 per barrel; Brent oil also decreased by 0.30% to $110.58 per barrel;

Due to these changes, the difference between Brent and WTI oil prices rose to $12.97/bbl. During the week, WTI slipped by 2%, and Brent by 0.1%.

The Henry Hub future price (March delivery) started off the month declining by 4.8% to $2.38/mmbtu; the Henry Hub spot also sharply fell to $2.32/mmbtu; the difference between the spot and future rose to $0.06, i.e. Contango.

A Summary of Changes for February 1st:

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

 Gold price Silver Crude oil prices, Natural gas 2012 February 1

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