Gold and Crude Oil Started the Week Falling –Recap January 9

Gold price continued its downward trend from Friday and declined on the first day of the week, while silver priced moderately rose ; crude oil prices also slipped yesterday; on the other hand natural gas spot price rallied on Monday. Major currencies such as Euro and Aussie  dollar changed direction and moderately appreciated against the U.S dollar. Here is a summary of the price developments of commodities for January 9th, 2012:

Precious Metals Prices:

Gold price moderately declined on Monday by 0.54% to $1,608.10; Silver on the other hand rose by 0.35% to reach $28.78. During January, gold increased by 2.6%, and silver by 3.11%. 

The Euro/USD rallied yesterday and rose by 0.38% to 1.2765; the U.S Dollar fell against  currencies such as the Australian dollar.

Oil and Gas Prices:

WTI oil price slightly fell yesterday by 0.25% to $101.31 per barrel; Brent oil price also decreased by 1.13% to $111.78 per barrel;

Due to these changes, the gap between Brent oil price and WTI oil prices fell to $10.47/bbl. During January, WTI price rose by 2.5%, and Brent price by 3.9%.

Natural gas Henry Hub future price (February delivery) declined by 1.31% to $3.02 /mmbtu. The Henry Hub spot rose to $2.92 /mmbtu; the difference between the spot and future price sharply fell to $0.10, i.e. Contango.

A Summary of Yesterday’s Prices:

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 and Silver oil prices, Natural gas price 2012  January 9

For further reading:

Weekly Analysis and Outlook: