Gold and Silver Ended the Week Falling –Recap January 6

Gold and silver prices changed direction and ended up moderately falling on the last day of the week; WTI crude oil price also slipped yesterday; on the other hand natural gas future price rallied on Friday. Major currencies such as Euro and Australian dollar continued to depreciate against the U.S dollar. Here is a summary of the price developments of precious metals and energy commodities for January 6th, 2012:

Precious Metals:

Gold price slightly declined on Friday by 0.20% to $1,616.80; Silver price also fell by 2.09% to reach $28.68. During January, gold price increased by 3.2%, and silver price by 2.75%. 

The Euro/USD fell again yesterday by 0.56% to 1.2717; the U.S Dollar appreciated against other currencies such as the Canadian dollar.

Oil and Gas:

WTI price slightly declined yesterday by 0.25% to $101.56 per barrel; Brent price on the other hand increased by 0.86% to $113.06 per barrel;

Due to these changes, the gap between Brent price and WTI prices rose to $11.50/bbl. During January, WTI oil price increased by 2.8%, and Brent oil price by 5.1%.

Natural gas Henry Hub future (February delivery) sharply increased by 2.68% to $3.06 /mmbtu. The Henry Hub spot fell to $2.87 /mmbtu; the difference between the spot and future price sharply rose to $0.19, 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 2012  January 6

For further reading:

Weekly Analysis and Outlook: