Gold and Silver Continued Their Downward–Recap May 9th

Gold and silver prices continued their downward trend with no clear end in sight. Crude oil prices also declined during yesterday trading. Alternatively natural gas price hiked again yesterday. Finally, the Euro depreciated again against the U.S. dollar for the eight consecutive business day; other currencies such as the Canadian dollar also declined vs. the USD.

Here is a summary of the daily shifts in precious metals and energy commodities for May 9th, 2012:

Precious Metals:

Gold price declined again yesterday by 0.64% to $1,594.2; Silver price also decreased by 0.74% and reached $29.24. During the month, gold declined by 4.21% and silver by 5.72%.

The Euro/USD slipped again by 0.58% to 1.2930; furthermore, the U.S Dollar also appreciated against other exchange rates such as the Canadian dollar.

Energy Commodities:

WTI oil price edged down by 0.21% to $96.81 per barrel; Brent oil also declined by 0.6% to $112.38 per barrel;

Following these developments, the difference between Brent and WTI oil prices reached $15.57/bbl. During the month, WTI fell by 7.69% and Brent oil by 6.1%.

The Henry Hub future (June delivery) hiked by 3.35% to $2.47/mmbtu; the Henry Hub spot price increased to $2.36/mmbtu; the difference between the spot and future was $0.11/mmbtu, i.e. Contango.

A Summary of Changes for May 9th:

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

 Gold price Silver Crude oil prices, Natural gas 2012 may 9

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