Gold and Silver Prices Rallied Yesterday –Recap February 15

Gold and silver prices changed direction and rallied yesterday from their slight fall during Tuesday’s trading; crude oil prices also increased; natural gas prices on the other hand sharply decreased. The Euro continued to depreciate against the US Dollar; other major currencies (CAD) also slightly depreciated against the U.S dollar. Here is a summary of the developments of precious metals and energy commodities for February 15th, 2012:

Precious Metals:

Gold price moderately increased on Wednesday by 0.61% to $1,728.1; Silver price also slightly increased by 0.18% and reached $33.41. During February, gold declined by 0.7% while silver rose by 0.44%. 

The Euro/USD slightly fell again by 0.52% to 1.3066; the U.S Dollar slightly appreciated against other exchange rates such as the Canadian dollar.

Oil and Gas:

WTI price rose by 1.05% to $101.80 per barrel; Brent oil also increased by 1.8% to $119.93 per barrel;

Due to these changes, the difference between Brent and WTI oil prices increased to $18.13/bbl. During the month, WTI rose by 3.4% and Brent by 8.1%.

The Henry Hub future price (March delivery) sharply decreased by 3.95% to $2.43/mmbtu; the Henry Hub on the other hand rose to $2.54/mmbtu; the difference between the spot and future reached -$0.11, i.e. Backwardation.

A Summary of Changes for February 15th:

The table below includes: closing prices, daily percent changes, and daily changes:

 Gold price Silver Crude oil prices, Natural gas 2012 February 15

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