Gold and silver prices changed direction and slightly fell during yesterday’s trading; other commodities prices such as crude oil prices also declined; natural gas prices continued their freefall on Thursday; the Euro and other currencies such as CAD rose against the U.S. dollar on Thursday. Here is a summary of the price developments of precious metals and energy commodities for January 19th, 2012:
Precious Metals :
Gold price slightly decreased on Thursday by 0.33% to $1,654.50; Silver also moderately decreased by 0.11% to reach $30.51. During January, gold increased by 5.6%, and silver by 9.29%.
The Euro/USD sharply rose yesterday by 0.82% to 1.2968; the USD on the other hand appreciated against other currencies such as the Australian dollar.
Oil and Gas :
WTI oil price slightly decreased by 0.20% to $100.39 per barrel; Brent oil price on the other hand increased by 0.39% to $110.88 per barrel;
Due to these changes, the gap between Brent and WTI prices rose to $10.49/bbl. During January, WTI rose by 1.6%, and Brent oil price by 3.1%.
Henry Hub future price (February delivery) sharply fell again by 6.07% to $2.32/mmbtu. The Henry Hub spot price also declined to $2.37/mmbtu; the difference between the spot and future price slipped to -$0.05, i.e. Backwardation.
A Summary of Yesterday’s 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):
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