Gold and Silver Declined while WTI Oil Rose –Recap December 22

Gold and silver prices slightly declined for the second straight day; WTI oil price continued to rally, while Brent oil price moderately declined; natural gas (Henry Hub) spot price changed direction and rose yesterday. Major currencies were traded slightly up against the US dollar including the Euro and the Australian dollar. Here is a summary of the price developments of precious metals and energy commodities for December 22nd:

Precious Metals Prices:

Gold price slightly slipped on Thursday by 0.19% and reached $1,610.60; Silver price also decreased by 0.69% to reach $29.05. During December, gold price declined by 8%, and silver price by 11.45%. 

The Euro changed direction and moderately appreciated again against the U.S dollar by 0.03% to 1.3051. The U.S Dollar also appreciated against other currencies such as the Canadian dollar.

Oil and Gas Prices:

WTI oil price rose yesterday by 0.97% to $99.48 per barrel; Brent oil price on the other hand declined by 0.07% to $108.86 per barrel;

Due to these changes, the gap between Brent oil price and WTI oil prices sharply fell to $9.38/bbl. During the month, WTI oil price declined by 0.9%, and Brent oil price by 2.2%.

Natural gas Henry Hub future price (January delivery) rose yesterday by 0.32% to $3.17/mmbtu. The Henry Hub spot price also increased by 1.65% to $3.08/mmbtu; the difference between the spot and future price declined to $0.09, 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 22

For further reading:

Weekly Analysis and Outlook: