Gold and Silver Edged Down on Tuesday –Recap March 27th

Gold and silver prices didn’t do much on Tuesday after they had sharply increased on Monday. They have finished yesterday’s trading in the red. Crude oil prices moved in different directions as Brent oil slipped while WTI oil price edged up – thus the Brent premium slightly contracted; natural gas future and spot prices declined again yesterday. The Euro also changed direction and decreased against the U.S. dollar.

Here is a summary of the changes in precious metals and energy commodities for March 27th, 2012:

Precious Metals:

Gold price edged down by 0.03% to $1,687.7; Silver price also decreased by 0.41% and reached $32.62. During March, gold decreased by 1.38% and silver by 5.85%.

The Euro/USD fell yesterday by 0.32% to 1.3316; furthermore, the U.S Dollar also appreciated against other exchange rates such as the Yen.

Oil and Gas:

WTI oil traded up by 0.28% to $107.33 per barrel, while Brent oil decreased by 0.32% to $125.99 per barrel;

Due to these changes, the difference between Brent and WTI oil prices reached $18.66/bbl. During the month, WTI edged up by 0.24% and Brent oil rose by 1.7%.

The Henry Hub future (April delivery) decreased by 0.9% to $2.21/mmbtu; the Henry Hub spot price sharply fell to $2.08/mmbtu; the difference between the spot and future reached $0.13/mmbtu, i.e. Contango.

A Summary of Changes for March 27th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 March 27

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