Gold Silver and Brent Oil Rallied on Friday –Recap December 16

Major commodities prices ended the week on a slightly positive note as many commodities prices mainly precious metals prices rallied from the sharp falls recorded a couple of days earlier: Gold and silver prices slightly inclined; Brent oil price moderately inclined while WTI oil price slipped again; natural gas (Henry Hub) continued to  trade down. Major currencies such as the Euro and AUD appreciated again against the US dollar. Here is a summary of the price developments of precious metals and energy commodities for December 16th:

Precious Metals Prices:

Gold price rose on Friday by 1.31% and reached $1,597.90; Silver price also increased by 1.36% to reach $29.67. During December, gold price declined by 8.7%, and silver price by 9.55%. 

The Euro appreciated again against the US dollar by 0.23% to 1.3046. The US Dollar continued to depreciate against other currencies such as the AUD.

Oil and Gas Prices:

WTI oil price slipped yesterday by 0.36% to $93.53 per barrel; Brent oil price on the other hand inclined by 0.21% to $104.06 per barrel;

Due these changes, the difference between Brent oil price and WTI oil prices inclined to $10.53/bbl. During the month, WTI oil price declined by 6.8%, and Brent oil price by 6.5%.

Natural gas Henry Hub future price (January delivery) remained unchanged again at $3.13/mmbtu. The Henry Hub spot price decreased by 0.66% to $3.03/mmbtu; the difference between the spot and future price slightly rose to $0.10, 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 16

For further reading:

Monthly Analysis and Outlook:

Weekly Analysis and Outlook: