Silver and Oil Rallied From Monday’s fall –Recap December 13

Following the recent FOMC meeting in which there was no news of another stimulus plan many currencies sharply declined against the US dollar; major commodities were traded with mixed trends: Gold price slightly declined while silver price moderately rose; crude oil prices bounced back and sharply rose; natural gas spot prices (Henry Hub) slightly slipped. Major currencies such as Euro and CAD depreciated again against the US dollar. Here is a summary of the price developments of precious metals and energy commodities for December 13th:

Precious Metals Prices:

Gold price slightly declined on Tuesday by 0.31% and reached $1,663.40; Silver price on the other hand sharply rose by 0.83% to reach $31.26. During December, gold price declined by 5.0%, and silver price by 4.71%. 

The Euro sharply depreciated again against the US dollar by 1.14% to 1.3037. The US Dollar also appreciated against currencies such as the Canadian dollar.

Oil and Gas Prices:

WTI oil price bounced back and rose yesterday by 2.42% to $100.14 per barrel; Brent oil price also inclined by 2.10% to $108.96 per barrel;

Due these changes, the difference between Brent oil price and WTI oil prices slipped to $8.82/bbl. During the month, WTI oil price declined by 0.2%, and Brent oil price by 2.1%.

Natural gas Henry Hub future price (January delivery) rose by 0.61% to $3.28/mmbtu. The Henry Hub spot price declined by 0.32% to $3.11/mmbtu; the difference between the spot and future price rose to $0.17, i.e. Contango.

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 prices Crude oil prices, Natural gas spot price 2011 December 13

For further reading:

Weekly Analysis and Outlook:

Monthly Analysis and Outlook: