Major commodities and forex didn’t change much yesterday: Gold price ended the week with moderate falls for the second straight day; silver price on the other hand ended with moderate rises; crude oil prices also decreased yesterday; natural gas spot price (Henry Hub) inclined while the short term future price fell.
Here is a summary of the price movements of precious metals and energy commodities for August 12th:
Precious Metals prices:
Gold price declined again for the second straight day; yesterday it fell by 0.51% to $1,742; Silver price on the other hand, inclined by 1.15% to $39.11.
During August, gold prices increased by 6.8%, but silver price fell by 2.5%.
The EURO/ USD continue to zigzag with no clear direction, and it inclined yesterday by 0.05%, as the USD moderately depreciated against the EURO. During August the EURO/USD fell by 1.0% compared to its initial level at the beginning of the month.
Oil and Gas prices:
WTI Spot oil price decreased yesterday by 0.4% to $85.38 per barrel; during August the WTI spot oil price declined by 10.8%. Brent spot price also decreased by 0.33% to $107.34 per barrel.
Due to these changes, the difference between Brent and WTI slightly declined to $21.96/bbl.
Natural gas Henry Hub future price (September delivery) declined by 1.22% to $4.06/mmbtu. The Henry Hub spot price on the other hand inclined by 2.72% to $4.16/mmbtu; the gap between the spot and future price changed direction to -$0.10, i.e. backwardation. During August, natural gas spot price (Henry Hub) fell by 2.3%.
A summary of yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in US dollars (except for USD/CAD, in which the change is in Canadian dollars):
For further reading:
Monthly Analysis and Outlook:
- Gold and silver prices outlook for August 2011
- Oil prices Monthly outlook – August 2011
- Natural gas prices outlook for August 2011