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):
For further reading:
- Gold & Silver Prices – Daily Outlook January 9
- Gold and Silver Prices Outlook for January 2012
- Crude Oil Prices Yearly Report 2011-2012
- Where are Gold and Silver Headed in 2012?
Weekly Analysis and Outlook: