Gold and silver prices continued their downward trend and started off the week the same way they have ended the previous one– falling. Other commodities also fell including crude oil (WTI) and natural gas future. Finally, the Euro also sharply declined against the USD; other currencies such as the Canadian dollar also slipped vs. the USD.
Here is a summary of the daily developments in precious metals and energy commodities for May 14th, 2012:
Gold declined again yesterday by 1.45% to $1,561; Silver also decreased by 1.86% and reached $28.35. During the month, gold declined by 6.2% and silver by 8.59%.
The Euro/USD also fell by 0.73% to 1.2823; furthermore, the U.S Dollar also appreciated against other currencies such as the Canadian dollar.
WTI oil price also declined by 1.4% to $94.78 per barrel; Brent oil fell by 0.94% to $111 per barrel;
Following these shifts, the gap between Brent and WTI oil reached $16.22/bbl. During the month, WTI fell by 9.62% and Brent oil by 7.2%.
The Henry Hub future (June delivery) plummeted by 3.8% to $2.43/mmbtu; the Henry Hub spot price rose to $2.4/mmbtu; the difference between the spot and future was $0.03/mmbtu, i.e. Contango.
A Summary for May 14th:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: