Gold and silver prices continued to rise even though other commodities prices declined in yesterday’s trading: crude oil prices changed direction and moderately declined, and natural gas price took a dive and precipitately decreased. Major currencies such as Euro and Canadian dollar depreciated. Here is a summary of the price developments of precious metals and energy commodities for January 11th, 2012:
Gold price moderately increased on Wednesday by 0.50% to $1,639.60; Silver also moderately rose by 0.25% to reach $29.89. During January, gold increased by 4.6%, and silver price by 7.08%.
The Euro/USD changed directions and was traded down yesterday by 0.56% to 1.2706; the U.S Dollar also appreciated against other currencies such as the Canadian dollar.
Oil and Gas:
WTI oil price also changed direction yesterday and declined by 1.34% to $100.87 per barrel; Brent oil also decreased by 0.09% to $112.44 per barrel;
Due to these changes, the gap between Brent and WTI sharply rose to $11.57/bbl. During January, WTI oil price increased by 2.1%, and Brent price by 4.5%.
Natural gas Henry Hub future price (February delivery) sharply declined by 5.78% to $2.77 /mmbtu. The Henry Hub spot price also sharply fell to $2.81 /mmbtu; the difference between the spot and future price remained at -$0.04, i.e. Backwardation.
A Summary of Yesterday’s Develpments:
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):
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