Gold and Silver Continued to Trade up –Recap January 11

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:

Precious Metals:

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):

 Gold and Silver  Crude oil prices, Natural gas price 2012  January 11

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