Gold and Oil Continued to Rally on Thursday–Recap July 26th

The Euro rose again for the second consecutive day; this time the ECB President’s statement about preserving the Euro may have contributed to the recovery of the Euro during yesterday. Most major commodities also rose during yesterday’s trading: crude oil prices including WTI and Brent oil traded up; gold and silver prices didn’t do much as gold increased while silver edged down; natural gas Henry Hub (August delivery) also rose while spot price changed direction and declined. Many exchange rates including the Aussie dollar also rose against USD.

Here is a summary of the daily changes in precious metals and energy commodities for July 26th, 2012:

Forex and Bullion Markets:

Gold rose by 0.44% to $1,619.8; Silver edged down by 0.07% and reached $27.45. During July, gold increased by 0.44% while silver slipped by 0.6%.

The Euro/USD hiked by 1.03% to 1.2283; further, the U.S Dollar also depreciated against many other currencies such as Canadian dollar by 0.53%.

Energy Commodities:

WTI oil price rose again yesterday by 0.68% to $89.39 per barrel;

Brent oil also increased by 0.46% to $106.33 per barrel;

Following these changes, the difference between Brent and WTI edged down to $16.94/bbl. During the month, WTI increased by 5.21% and Brent oil by 9.6%.

Finally, the Henry Hub future (August delivery) changed direction again and rose by 0.65% to $3.1/mmbtu; the Henry Hub spot fell to $3.13/mmbtu; the difference between the spot and future reached at -$0.03, Backwardation.

A Summary for July 26th:

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

 Gold Silver Crude oil Natural gas 2012 July 26

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