Commodities and Euro/USD Hiked on Friday–Recap June 29th

Major commodities and U.S stock markets changed direction and after they had tumbled down on Thursday, coming Friday commodities, stocks and currencies hiked on account of the recent agreement struck among EU countries. In this agreement EU leaders agreed that banks will be bailed by the rescue fund and not the country with the struggling banking system. This means Spain is off the hook from bailing out its banks. The supervision is also supposed to tighten on the banking system across the EU. This news rallied the markets as many commodities, U.S stocks and currencies hiked on the last day of the week and month. Crude oil prices including both WTI and Brent sharply rose on Friday. Natural gas Henry Hub (July delivery) also changed direction and increased. Gold and silver prices sharply rose yesterday. The Euro sharply appreciated again against the USD. Many other exchange rates such as the Aussie dollar also spiked again USD.

Here is a summary of the daily changes in precious metals and energy commodities for June 29th, 2012:

Forex and Bullion Markets:

Gold hiked by 3.47% to $1,604.2; Silver also increased by 5.02% and reached $27.61. During the month, gold increased by 2.56% and silver decreased by 0.52%.

The Euro/USD also spiked by 1.79% to 1.2666; further, the U.S Dollar fell against several currencies such as Australian dollar by 1.92%.

Energy Commodities:

WTI oil price also hiked yesterday by 9.36% to $84.96 per barrel;

Brent oil also increased by 6.12% to $97.00 per barrel;

Following these changes, the difference between Brent and WTI reached $12.04/bbl. During the month, WTI decreased by 1.81% and Brent oil by 5%.

Finally, the Henry Hub future (July delivery) rose by 3.3% to $2.82/mmbtu; the Henry Hub spot decreased to $2.74/mmbtu; the difference between the spot and future rose to $0.08, Contango.

A Summary for June 29th:

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

 Gold Silver Crude oil Natural gas 2012 June 29

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