Gold Silver and Oil Ended the Week Declining–Recap May 11th

Gold and silver prices resumed their downward trend and ended the week falling. Other commodities also declined including crude oil (WTI); natural gas future continued to trade up yesterday. Finally, the Euro also resumed its descent and thus decreased in the past 9 out of ten days; other currencies such as the Australian dollar also declined vs. the USD.

Here is a summary of the daily developments in precious metals and energy commodities for May 11th, 2012:

Precious Metals:

Gold resumed its downward trend and declined yesterday by 0.72% to $1,584; Silver also fell by 0.99% and reached $28.89. During the month, gold declined by 4.82% and silver by 6.85%.

The Euro/USD also slipped by 0.15% to 1.2917; furthermore, the U.S Dollar also appreciated against other currencies such as the Australian dollar.

Energy Commodities:

WTI oil price also fell by 0.98% to $96.13 per barrel; Brent oil edged down by 0.01% to $112.05 per barrel;

Following these changes, the gap between Brent and WTI oil reached $15.92/bbl. During the month, WTI fell by 8.33% and Brent oil by 6.4%.

The Henry Hub future (June delivery) rose by 0.8% to $2.51/mmbtu; the Henry Hub spot price remained unchanged at $2.36/mmbtu; the gap between the spot and future was $0.15/mmbtu, i.e. Contango.

A Summary of Changes for May 11th:

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

 Gold Silver Crude oil Natural gas 2012 may 11

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