Major commodities prices didn’t do well again and crude oil prices tumbled down during yesterdays trading. Natural gas future price bounced back and rose. Gold and silver prices also declined for the fourth consecutive business day. Finally, the Euro slipped again against the U.S. dollar for the fourth consecutive day; other currencies such as the Australian dollar also edged down vs. the USD.
Here is a summary of the daily shifts in precious metals and energy commodities for May 3rd, 2012:
Gold price decreased by 1.16% to $1,634; Silver price also declined by 2.07% and reached $30.01. During the week, gold declined by 1.8% and silver by 4.5%.
The Euro/USD also slipped by 0.04% to 1.3153; furthermore, the U.S Dollar continued to appreciate against other exchange rates such as the Aussie dollar.
WTI oil price plummeted by 2.55% to $102.54 per barrel; Brent oil also fell by 1.84% to $115.99 per barrel;
Following these changes, the gap between Brent and WTI oil prices reached $13.45/bbl. During the week, WTI rose by 0.3% while Brent oil declined by 1.5%.
The Henry Hub future (June delivery) sharply rose by 3.54% to $2.34/mmbtu; the Henry Hub spot price fell to $2.28/mmbtu; the difference between the spot and future was $0.06/mmbtu, i.e. Contango.
A Summary of Changes for May 3rd:
The table below includes: closing prices, daily percent changes, and daily changes:
For further reading: